The Dresden Public Prosecutor’s Office received the cryptocurrency from the suspect
A former operator of a pirated copy portal. However, the money did not initially come into the Saxon state budget.
According to its own information, the Dresden Public Prosecutor’s Office raised about 2.64 billion euros from the sale of about 50,000 bitcoins in connection with the criminal case against the operator of the former pirated copy portal. As Saxon officials announced Tuesday, it’s a so-called emergency sale, which is required as soon as possible in criminal proceedings to protect assets suspected of stemming from criminal activity.
According to the Attorney General’s Office, this is an emergency sale unique in Germany. However, the money did not initially come into the Saxon state budget. It will be kept in safe custody only until the criminal proceedings surrounding the piracy portal movie2k.to are over.
Investigation of copyright infringement and money laundering
The public prosecutor’s office has long been investigating the suspected operators of the internet portal, which was shut down by authorities in 2013 for commercial copyright infringement and money laundering. A prime suspect voluntarily surrendered nearly 50,000 bitcoins to investigators, authorities announced in January.
The alleged 40-year-old operator has now been charged as an accomplice at the regional court in Leipzig. According to investigators, along with other operators, he allegedly invested the illegal proceeds of the movie2k.to operation in cryptocurrency, the value of which has recently rebounded after strong fluctuations. By the time the suspect handed them over, his bitcoins were only worth 1.96 billion euros.
Price movement is not decisive for impulse selling
However, according to the Attorney General’s Office, price movements in the market played no role in the timing of the emergency sale. This is not permitted by law. Only the Criminal Procedure Code is relevant. It stipulates the urgent sale of foreclosed properties before the end of proceedings when there is a risk of at least ten percent loss of value. This is given the fluctuations in bitcoins.
“If the emergency sale is to be carried out as quickly as possible, any price speculation or waiting for stock prices to rise is prohibited for the law enforcement agency,” said investigators in Dresden. The sale of bitcoins was carried out in small installments over three and a half weeks through a bank in Frankfurt am Main specializing in digital currencies;
The state budget will only receive income if the regional court in Leipzig orders the confiscation of assets as part of a possible later judgment against the alleged operator. The prospect sparked interest in Saxon state politics on Tuesday.
The Left wing calls for investment in hospitals and schools
The Left wing in the state parliament called for the funds to be used for investments in hospitals, schools and day care centres. “About ten percent of the annual budget could flow in addition to the state coffers,” explained the head of the parliamentary committee, Rico Gebhardt. This is “great luck”. Under no circumstances should the state government alone take a decision in this regard.
Copies of Movies and TV Serials Between 2008 and 2013 when copies of movies and TV series were shut down, copies of movies and TV series were illegally distributed through the streaming portal Movie2k.to. According to investigators, it was the largest German pirated copy portal. The alleged operators behind it were only caught years later, and the main accused in Leipzig was not caught until 2023. Other operators on campus had prior convictions, according to the attorney general’s office. (APA)
