Accused crypto investment scammer faces prison

Jan 11, 2024 | News On Japan

TOKYO - In a fraud case involving investment in cryptocurrency through OZ Project, a man who played a role in managing the assets faces a five-year prison sentence.

The 49-year-old defendant, Takuya Hashiyada, who was in charge of managing cryptocurrency assets for OZ Project, is accused of deceiving five men and women out of over 6.4 million yen by presenting false investment opportunities in virtual currencies using AI. He denies the charges brought against him.

During the trial on January 9, the prosecution stated that Hashiyada committed a serious crime by illegally soliciting clients while fully aware that his financial management was akin to a Ponzi scheme. They have demanded a sentence of five years in prison and a fine of 5 million yen.

The defense argued that Hashiyada only performed tasks such as creating accounts and transferring money and did not receive any compensation, claiming his innocence.

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