Seven UK gang members who kidnapped, tortured and extorted a cryptocurrency investor have been convicted and sentenced to prison terms.
The victim was repeatedly targeted, assaulted and forced to transfer 100,000 pounds ($124,152) worth of cryptocurrency over several months, reported the Warrington Guardian.
The ordeal began in January 2023, when the victim was confronted at his home by a man demanding cryptocurrency. Fearing for his life, he transferred money to gang member Scott Armstrong.
Later that month, David Povey and another man returned, this time armed with a knife, and forced him to hand over more funds. The victim complied, hoping the harassment would stop.
Relief from months of suffering
In October 2023, the gang escalated their attacks.
Gang member Gary Edwards lured the victim to a flat, where he was tied up, beaten, and locked in a cupboard overnight. When he couldn’t pay immediately, another assailant, Kane Godiff, threatened to kill him. After hours of violence, the gang released him, but only after they received the demanded amount.
A few days later, the gang targeted him once again. This time, they forced him into a house, placed a bag over his head and subjected him to more threats and violence.
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The final attack happened on Nov. 30, 2023, when Edwards approached him at a friend’s house, threw him into a van, covered his head, and took him to another location.
On Dec. 2, 2023, police received an anonymous call about the victim’s welfare.
Officers arrived and saw gang member Karl Johnson fleeing the scene. Inside the house, they found the terrified victim, who reportedly pleaded, “Can you take me with you?”
He had burn marks on his hand, bruises across his body and injuries from being beaten with weapons. Officers also discovered chilling evidence, including a gun, ammunition, machetes, knives, a baseball bat, ropes and cable ties used to restrain him.
Crypto investor-hostage receives justice
On Jan. 30, at Manchester Crown Court, the gang was sentenced to lengthy prison terms.
Jonathan Newns, 24, was jailed for 20 years for attempted robbery, kidnap, false imprisonment, and possession of a firearm. Povey, 34, received 20 years for robbery, kidnapping, false imprisonment and attempted robbery.
Luke Johnson, 25, was sentenced to 13 years and six months for attempted robbery, false imprisonment and kidnapping.
Edwards, 47, was jailed for 10 years and two months for attempted robbery, while Godiff, 33, received seven years and five months. Karl Johnson, 35, was sentenced to three years for assisting robbery, and Armstrong, 39, received two years and four months for transferring criminal property.
This comes as attacks on cryptocurrency investors and executives have been on the rise, with ransomware gangs extorting over $1.1 billion in crypto payments in 2023, according to Chainalysis.
David Balland, co-founder of French hardware wallet manufacturer Ledger, was kidnapped from his home in France on Jan. 21 and held captive until police secured his release on Jan. 22. The kidnappers had demanded a ransom in cryptocurrency.
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