Former Australian Rugby Star Trent Merrin has been arrested for stealing AUD $140,000 worth of cryptocurrency using deceptive means.
Summary
- Former NRL star Trent Merrin has been charged with allegedly stealing crypto using deceptive means.
- Police seized multiple electronic devices during a raid.
- Australia has intensified its crackdown on crypto-related crime and tightened digital asset regulations.
Merrin, who is a renowned former forward known for his stints with the Kangaroos, New South Wales Blues, and NRL clubs like the Dragons and Panthers, was arrested and charged with dishonestly obtaining financial advantage by deception, according to a local media report published on Nov. 4.
After a year-long investigation, police found that Merrin allegedly accessed and transferred funds from a 29-year-old man’s crypto wallet without authorization, using deceptive tactics to carry out the theft. However, the authorities have not disclosed the exact details of how the event unfolded or what the relationship was between the involved parties.
Police managed to seize several electronic devices during a raid on his Barrack Point residence, which are now undergoing forensic examination to support the ongoing inquiry.
Merrin, who retired from professional rugby league in 2021 after a 15-year career, describes himself as a “dedicated entrepreneur and investor with a passion for crypto, blockchain, and the health and wellness industry” on LinkedIn.
He has been released on conditional bail and will appear before Port Kembla Local Court on Dec. 3, the report added.
Merrin’s arrest comes as Australia has intensified its crackdown on cryptocurrency-linked crimes after flagging this booming sector as a major threat to its financial system.
Last year, the Australian Transaction Reports and Analysis Centre classified cryptocurrency as a “high” risk factor in its national money laundering risk assessment, and roughly a year later, the agency said it would launch enforcement actions against digital currency exchanges and virtual asset service providers facilitating illicit flows.
In February this year, the financial intelligence agency launched a widespread compliance sweep against more than 50 cryptocurrency service providers and took action against 13 of them by revoking or suspending registrations.
Crypto ATMs have also come under the Australian government’s crosshairs, after authorities found they were increasingly being used in scams and illicit financial transfers. To counter this, the government last month granted AUSTRAC new powers to regulate crypto ATMs, which have exploded in number across the country.
Regulators have also tightened the crypto licensing framework by introducing draft legislation that would mandate digital asset platforms to obtain an Australian Financial Services Licence and face steep penalties of up to 10% of annual turnover for violations.
Source: https://crypto.news/former-nrl-star-trent-merrin-arrested-over-alleged-140k-crypto-theft-in-australia/
