Alleged fraudster held over $82,000 in crypto, $35,000 in Revolut deposits
135 deposits made to two Revolut accounts, court told
Alleged fraudster Tammy Caruana held a crypto wallet containing over $82,000 in Bitcoin and other cryptocurrencies, and operated two Revolut accounts that received more than $35,700 in deposits, a court heard.
During the compilation of evidence against the 25-year old woman from St Paul’s Bay who is charged with defrauding around 200 people out of €1 million while impersonating local banks, an inspector from the FCID told the court that one of Caruana’s crypto wallets contained $82,157 in Bitcoin and other cryptocurrencies.
Caruana, who is currently unemployed, denies all charges including money laundering, fraud, and being part of an organised crime group and criminal association.
On Thursday, an FCID inspector assisting lead investigator Claire Vella Borg told Magistrate Lara Lanfranco that two wallets belonging to Caruana were analysed. One received a total of $12,268, while another contained $82,157 in Bitcoin and other cryptocurrencies.
The inspector also analysed two Revolut accounts belonging to the accused. One of the accounts had received a total of 38 deposits amounting to $14,300.60, while the second account received 97 deposits totalling $21,476.
IT expert Keith Cutajar told the court he had examined the accused’s crypto assets which revealed two wallets on the Exodus platform. One contained €324.85 in cryptocurrency, with a peak balance of around €2,500. The second wallet contained €1.19, with a highest recorded balance of around €4,000. The expert added that this latter wallet had the highest transaction frequency.
A request for bail was made, with the defence presenting an address where Caruana would reside if granted release. The prosecution said it would defer to the court’s decision after hearing a representative from Insurance Life Star confirm the information presented by the defence.
The prosecution is being led by Inspector Claire Vella Borg together with lawyers Marica Ciantar and Mauro Abela on behalf of the Attorney General. Professor Stefano Filetti appeared for Bank of Valletta plc, while lawyer Maria Lisa Buttigieg appeared for Banif plc. The accused is being represented by lawyers Roberto Spiteri, Alfred Abela, Rene Darmanin and Franco Galea.