A science and technology center situated in Michigan has been raided by Federal agencies during a crypto-related investigation, as reported by Wood-TV on 5 January 2019.

Chris Boden, founder of The National Science Institute (formerly The Geek Group), reportedly issued a live statement on YouTube Saturday night, stating that his office was raided by the officials of the US Federal Bureau of Investigation (FBI) and the Department of Homeland Security (DHS). He added that during the raid, agents took away computers and other equipment from the office. He maintained that his company was a technology-based non-profit organization.

The news agency also reported that Boden admitted that he was indeed trading in cryptocurrency without the essential authorization. Moreover, the founder believes that he would be facing federal prison time and around USD 100,000 for the legal defense.

On 6 January, Boden posted on Facebook stating that he would use an open Google Doc to issue a public statement. However, the current statement says that he will refrain from making any comment on the ongoing investigation; on the advice of his lawyers.

In a similar fashion, in the previous month, the CEO of Coinflux, a dominant Romanian crypto exchange, was arrested on the charges of fraud, organized crime and money laundering on a warrant issued by the US government. In August 2018, South Korean police took action against a local company which was allegedly offering its investors the remains of a sunken Russian warship.

 

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