Melbourne Magistrates’ Court is set to hear the case of William Wheatley, a suspended Australian Federal Police officer, accused of stealing 81.616 Bitcoin seized during a 2019 drug trafficking investigation. The digital currency, valued at approximately $450,000 at the time of seizure, is now worth over $6 million.
The initial investigation suspected accomplices of the drug traffickers were responsible for the missing Bitcoin. However, new tracing tools unavailable in 2019 pointed towards potential foul play by a law enforcement officer, leading to the reopening of the case in 2021.
The Bitcoin was found in a Trezor hardware wallet during a raid on a suspected steroid operation conducted by the Icarus Taskforce, a joint unit of the Victoria Police and Australian Federal Police. Wheatley, the only federal officer present at the raid, was contacted due to his expertise in cryptocurrencies.
Despite legal authorization, investigators discovered the wallet emptied just four days after seizure. Transactions traced between January and April 2019 were linked to various crypto platforms and, allegedly, to personal bank accounts connected to Wheatley as recently as September 2022.
Wheatley faces charges of theft, dealing with suspected criminal proceeds, and using information for personal gain. His lawyer argues the evidence is circumstantial and denies any wrongdoing. The committal hearing will determine whether sufficient evidence exists to proceed to trial.
This case raises concerns about potential vulnerabilities within law enforcement and the allure of digital currencies. The outcome will be monitored closely as it sheds light on the complex issue of trust and ethical conduct within the police force.
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Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.
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