Jawad Yaqub, a 45-year-old resident of Ben Vista Park in Holywood, has entered a plea of not guilty to a series of charges at Downpatrick Crown Court on Thursday. Yaqub is facing allegations of misappropriating Bitcoin worth over £8 million from Razormind Ltd.
The cryptocurrency in question, amounting to 397.504 Bitcoin, holds significant value in the current market.
Yaqub is confronted with a total of 25 charges, including 19 counts of converting criminal property, four instances of fraud by false representation, along with one count each of fraudulent trading and theft.
The prosecution asserts that Yaqub, who served as a director at Razormind Ltd, engaged in business activities with the fraudulent intent of deceiving participants in the DeOS (decentralised operating system) crowd sale.
The charges of fraud by false representation stem from Yaqub’s claims that Razormind Ltd was a leading IT services provider, catering to a diverse clientele including major corporations, financial institutions, governments, and affluent individuals. The list of purported clients includes notable names such as the Bank of America, Commonwealth Bank of Australia, and others.
Additionally, Yaqub is accused of falsely claiming academic credentials from Queen’s University Belfast, including an M.Phil and a PhD.
KC Eilish McDermott:
Defence KC Eilish McDermott assured the court that the appointment of a computer expert would proceed swiftly, without affecting the trial date. Both the defence and prosecution are reportedly working together to refine the focus of the trial, which Judge Geoffrey Millar has scheduled for March 4 of the following year.
While granting bail to Mr. Yaqub, Judge Millar also scheduled a review of the case for November 17 to ensure its timely progression.