NSW South Coast Man Granted Bail Over Alleged $5.7m Dark Web Bitcoin Haul

• Jamie Lawrence Powrie has been granted strict bail conditions, including house arrest, while facing multiple criminal charges linked to alleged proceeds of crime.
• Prosecutors allege cryptocurrency connected to unlawful activity was used to purchase the Surfside home where he was arrested.
• The defence cited court delays and the technical nature of the case, with Powrie due back before the court on 27 July.

A Surfside man facing serious criminal allegations connected to an alleged $5.7 million Bitcoin haul has secured conditional bail and will remain under house arrest while court proceedings continue.

Jamie Lawrence Powrie, aged 39, is accused of dealing with property allegedly representing proceeds of crime exceeding $5 million, failing to comply with a digital evidence access order and supplying prohibited drugs of an indictable quantity.

Powrie appeared by video link in Batemans Bay Local Court from South Coast Correctional Centre, where the prosecution argued against his release. According to submissions made during the hearing, prosecutors intend to allege that cryptocurrency linked to unlawful activity was used to acquire the home in Surfside where Powrie was taken into custody. The court was told investigators seized laptops bearing Powrie’s name and that he was acquainted with a co-accused connected to the matter.

Related: ASIC Sounds Alarm as Crypto Scammers Trap Investors Through Fake Trading Groups

Judge Approves Release Under Strict Conditions 

Defence counsel argued Powrie had already spent a lengthy period in custody and pointed to delays in the court process. The defence also submitted that aspects of the case were highly technical and difficult to address while incarcerated.

Judge Doug Dick ultimately approved bail, noting the time already spent in custody and imposing strict release conditions. As part of those conditions, Powrie must provide a $10,000 surety, hand over his passport and report to police daily while remaining under house arrest. 

The case will next be heard on 27 July.

Related: Analysts Split on Bitcoin’s Bottom, but See Strong Upside Ahead

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