‘Drug-dealing’ football coach sues Bitcoin fund manager over $14M loss

In Australia, a suite of high-profile cryptocurrency investors (which could include accused drug trafficker and former football coach Mark “Bomber” Thompson) are preparing to take their Bitcoin BTC fund manager to court over $14.2 million (AU$20 million) in losses. Stefanos Papanastasiou (39), founder of what claims to be Australia‘s first online bed retailer, is under fire by a number of disgruntled investors who had been convinced of his power to reduce volatility in the cryptocurrency markets, reports The Age. Under the name Stefan Papas, he reportedly told clients he had spent $355,000 (AU$500,000) to develop a special computer algorithm capable of providing massive financial returns on money contributed to his fund, dedicated to trading Bitcoin and Ethereum tokens. Thompson, the disgraced AFL coach and accused ecstasy trafficker, is said to have contributed more than $709,000 (AU$1 million) Papanastasiou’ fund, alongside notable lawyers and business figures. Property developer Savvas Alexiadis (Sam) and his wife have already taken action. Reported legal documents showed claims of being owed more than $1.9 million (AU$2.7 million) from investments made between July and November 2017 – just as the infamous $20,000 bull market was reaching full steam. Court documents reveal how Papas operated. “I promise this much, I intend to ensure everyone gets a head start, a huge break or hit the jackpot. It’s there for us to capitalise from,” he wrote in an SMS message. “Sam, the numbers are staggering, seemingly unequivocally within reach. This transition in history, is like no other before it.” “Sam, don’t get caught up in the details. Leave it to me. Let me know password login for [your stock trading account]. I’ll deal with whatever funds are in there … Eyes on the prize Sam. Understood? Got your back,” Papanastasiou continued. A series of misappropriations, or ‘something more sinister?’ Papanastasiou is
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