**News Flash: Former CEO of Aussie Crypto Exchange Faces Fraud Charges**

The former CEO of Mine Digital, an Australian cryptocurrency exchange, is facing fraud charges for allegedly misappropriating $1.47 million (2.2 million AUD) from a customer. The Australian Securities and Investments Commission (ASIC) claims the customer paid for Bitcoin but never received it. Instead, Grant Colthup allegedly used the funds to cover ACCE Australia’s liabilities or buy crypto for others.

Mine Digital, which collapsed in September 2022, owes creditors $16 million. Colthup was charged under Queensland’s Criminal Code, facing up to 20 years in prison. The case continues on Dec. 16, 2024.