**Cryptocurrency and Blockchain News**
Former ACCE Australia CEO Grant Colthup has been charged with fraud following an investigation by the Australian Securities and Investments Commission (ASIC).
- Colthup, accused of embezzling $1.47 million from a client, has appeared in court in Ipswich, Queensland.
- ACCE operated a cryptocurrency trading platform under the brand "Mine Digital" from 2019 to 2022.
- ASIC alleges that instead of delivering the bitcoin to the client, Colthup used the funds to cover ACCE's financial obligations and purchase cryptocurrency for other clients.
- The maximum penalty under section 408C of the Queensland Criminal Code 1899 is 20 years in prison. The case has been adjourned until December 16, 2024.
- ACCE went bankrupt in September 2022, leaving creditors with debts of about $16 million.
- An investigation found financial inconsistencies and insufficient transaction records.
These events highlight the importance of transparency and accountability in the management of digital assets.