Crypto Fraudster Who Spent Stolen Funds on Luxury Items Sentenced to 2.5 Years

A cryptocurrency fraudster, Ajay Shinjin, has been sentenced to two and a half years in jail for exploiting SIM-swap technology to steal nearly £200,000 from multiple victims. Shinjin used the illicit funds to finance a lavish lifestyle, including gold-plated "grills," a high-end apartment, and luxury trips to Dubai.

Shinjin, also known as AJ Marley Cruz, was initially arrested in 2021. He was later apprehended at Heathrow Airport in October 2023 upon his return from Dubai, following the emergence of further evidence. Police bodycam footage captured his arrest at the airport.

He pleaded guilty at Inner London Crown Court on September 28 to one count of conspiracy to commit fraud by false representation and one count of transferring criminal property. The sentencing took place at the same court.

SIM-swap fraud, a method Shinjin employed, involves fraudsters gathering a victim's personal information through various means such as phishing emails, social engineering, or data breaches. They then impersonate the victim to a mobile phone provider, convincing them to transfer the victim's phone service to a SIM card controlled by the fraudster. This grants the fraudster access to incoming calls, text messages, and emails, including two-factor authentication (2FA) codes, which can be used to access financial and social media accounts.

The investigation revealed that Shinjin was linked to four SIM swap devices used to receive ported customer telephone numbers. The victims associated with these incidents reported crimes occurring in early November 2021. One victim lost approximately £40,000 in cryptocurrency on November 2, 2021, with about £27,000 transferred to Shinjin's personal crypto account. Another victim had around £17,000 stolen between November 5 and 7, 2021, which was also found in Shinjin's wallet. He facilitated the theft of approximately £8,000 from a third victim's Coinbase account and was involved in the theft of approximately £130,000 from a fourth victim between November 6 and 7, 2021.

During police interviews, Shinjin provided no comment to all questions posed to him.

Detective Constable Simon Ardeman of the City of London Police described the case as a "complex and calculated fraud" that caused significant financial harm. "By deliberately exploiting SIM-swap technology, Shinjin was able to gain access to cryptocurrency accounts and steal nearly £200,000 from multiple victims' accounts," Ardeman stated. He added, "SIM-swap fraud is a sophisticated and increasingly concerning form of offending, and this case demonstrates the devastating consequences it can have for victims. This conviction sends a clear message that those who use technology to commit fraud will be brought to justice."