Bitcoin: Trial ordered for Saskatchewan fraud case involving stolen funds used to buy bitcoin [Video]

A case involving stolen funds from a Saskatchewan business being used to purchase cryptocurrency will be heading back to the courts, thanks to a new decision by Saskatchewan’s Court of Appeal.

The case revolves around an incident that took place in October of 2019.

Court documents outline that a man named Denzel Blackett fraudulently withdrew $110,672.97 from 4 Star Ventures’ account held at Innovation Credit Union (ICU).

According to its website, 4 Star Ventures operates as a power tong and pressure testing company based out of Gull Lake, Sask.

The vast majority of the funds, $103,932.50, were used to purchase Bitcoin. Blackett was arrested and charged by Durham Ontario Regional Police in March of 2020 for his actions in the fraud.