A Cardiff man has been jailed for running a cryptocurrency investment scam on social media, defrauding 17 known victims of more than £124,000.
Haroon Zaman, from Grangetown, was sentenced at Reading Crown Court on Wednesday, following close investigative work between South Wales Police and the South East Regional Organised Crime Unit (SEROCU).
Zaman, 23, of Holmesdale Street, was sentenced to three years and eight months’ imprisonment for 17 counts of fraud by false representation.
Between January 2021 and June 2023, Zaman hacked into victims’ social media accounts and impersonated them online. He then used these compromised accounts to promote fraudulent cryptocurrency ‘investment opportunities’.
Victims were persuaded to transfer funds on the promise of risk-free returns. However, no investments existed, and Zaman stole a total of £124,479.
Investigating officer, DC Alex Sarakinis, from SEROCU, said Zaman had shown a “complete disregard for the damage” he had caused, adding:
“By hijacking social media accounts, he deceived people into believing they were investing safely, when in fact he was stealing their money.
“Thanks to close partnership working with South Wales Police, we were able to uncover the scale of his offending and ensure he has now been brought before the courts.”
