Osaka police in Japan arrest three suspects involved in laundering billions of yen through stablecoins

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BlockBeats News — June 20. According to a report by Japan’s Kyodo News, Osaka Prefectural Police arrested three men on suspicion of violating the Act on Punishment of Organized Crime Groups, alleging that they laundered criminal proceeds on behalf of an investment fraud group. It is said that the three men converted approximately 14 million yen in funds from six prefectures and 10 victims into crypto assets such as stablecoins, thereby concealing the source of the funds.

According to Osaka Prefectural Police, the three individuals are “over-the-counter traders” who conduct peer-to-peer cryptocurrency transactions outside trading platforms, and are believed to have been involved in money-laundering activities on a scale of several billion yen.

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