Connecticut Man Pleads Guilty to Large-Scale Cryptocurrency Theft
A man from Connecticut has admitted to participating in a cryptocurrency theft worth 245 million USD, involving Bitcoin. Reports indicate that Veer Chetal confessed to fraud and money laundering after his family was kidnapped.
Crime Related to Bitcoin Theft and Underground Activities
According to court documents released this morning, Chetal, 19, from Danbury, Connecticut, agreed to testify against his accomplices. Last August, Chetal's group conducted an online fraud that stole over 4,100 BNB from a Washington D.C. resident. The proceeds were used to maintain a luxurious lifestyle, spending millions on cars, jewelry, rental mansions, and nightclub parties.
Connecticut Resident Disrupts Bitcoin Theft After Family Kidnapping
Just a week after Chetal's group conducted the large-scale theft, his family was kidnapped and assaulted. Although the attack was unsuccessful, police believe the perpetrators used the kidnapping to coerce Chetal, who was believed to hold a large amount of digital assets, into transferring part of the funds to save his parents.
Chetal's family was in a newly purchased Lamborghini SUV when they were kidnapped and forced out of the vehicle. Witnesses immediately called the police. The quick-response police team arrested four suspects after they abandoned the car and fled on foot. Two other perpetrators were later arrested at an Airbnb rental house, according to investigation agencies.
Chetal Cooperates to Testify Against Accomplices
In the court hearing, one of the defendants, Michael Rivas, apologized for his actions. He explained it was a foolish idea and he was following an accomplice with a grudge. His lawyer stated that Rivas only participated in hopes of securing a share of the loot. Investigators also discovered that, in addition to this theft, Chetal is suspected of being involved in other thefts totaling over 3 million USD from November 2023 to September 2024, including a 2 million USD cryptocurrency theft in October, but refused to provide clear details.
Chetal Agrees to Cooperate with Investigation, Faces Charges of Money Laundering and Large-Scale Cryptocurrency Theft
Chetal's criminal case was opened on Monday at the federal court in Washington, revealing that he admitted guilt in November and agreed to cooperate with authorities. Additionally, prosecutors are investigating his theft of over 3 million USD in cryptocurrency, primarily BTC, over the past year. The judge also noted that Chetal owned approximately 39 million USD in digital asset value, which has been transferred to the investigation agency. Authorities also predict that Chetal may be deported due to cryptocurrency-related criminal activities.
Investigators Discover Over 500,000 USD in Cash and Luxury Assets Belonging to Chetal
Last September, federal agents raided Chetal's apartment in Brunswick, New Jersey, along with his parents' home in Danbury, related to the Bitcoin theft. They seized over 500,000 USD in cash, jewelry, expensive watches, and high-end clothing. The investigation agency also discovered that he owned approximately 39 million USD in digital asset value, which could have helped him avoid legal consequences or elevate his status in the cryptocurrency market.
