Blockparty Co-Founder Stole $1 Million in Bitcoin and Dollars From Corporation, FBI Alleges

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The FBI currently arrested and charged the co-founder of blockchain celebration startup Blockparty for swindling $1 million in income and crypto from the company to invest on luxurious merchandise. 

Rikesh Thapa, 28, who was Blockparty’s CTO from 2017 to 2019, stole 10 Bitcoin from the enterprise and falsified investing documents to address his tracks, the Division of Justice alleged on Wednesday.

Thapa is also billed with embezzling $1 million in dollars. The DOJ promises that he agreed to hold the cash in his own bank account when the corporation looked at banking selections. Thapa afterwards refused to give back the funds and rather put in it on himself, authorities allege.

Thapa used the stolen funds on nightclubs, vacation, and clothes prior to once more falsifying records to hide what he actually did with the cash, in accordance to the DOJ. 

Prosecutors further allege that Thapa stole Blockparty’s utility tokens, set up a meeting with would-be investors, and certain them to give him dollars for the assets—without allowing the company’s CEO know—so he could pocket the financial commitment. 

“As we allege currently, the defendant regularly stole from and defrauded the target company—which he co founded—in buy to fund a lavish personal lifestyle,” FBI Assistant Director in Charge Michael J. Driscoll explained. 

Blockparty, an function ticketing protocol and NFT market, was released in 2017 by Thapa alongside with Shiv Madan and Vladislav Ginzburg. 

Thapa, of San Diego, California, is charged with a single rely of wire fraud, which carries a most sentence of 20 several years in prison.

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