Former LAPD officer sentenced to life plus 15 years for $350K Bitcoin theft

A former Los Angeles police officer was sentenced to life plus 15 years in state prison for leading a home invasion in which $350,000 in Bitcoin was stolen from a teenager. Eric Halem, 38, was found guilty in March following a two-week trial after jurors deliberated for less than a day. Superior Court Judge Mildred Escobedo rejected a late request for a new trial before imposing concurrent life terms, noting the evidence demonstrated a man willing to employ violence driven by "sheer and utter greed." Halem becomes eligible for parole after seven years.

Prosecutors said Halem and three other men entered a Koreatown apartment at approximately 2:30 a.m. on December 28, 2024. The crew handcuffed two victims, moved cryptocurrency funds from their account and took cash and jewellery. They arrived in a Range Rover and Lamborghini Urus registered to Halem's car rental business, wore police-identifying vests and entered using an access code provided by a conspirator who had rented the unit. Halem had left the police department nearly two years earlier after 13 years of service, though he remained a reserve officer at the time.

The 17-year-old victim testified that he had built his holdings partly through scamming others. Judge Escobedo stated this did not excuse the crime, calling the conduct of a former officer impersonating police to rob someone "heinous and egregious." Halem's mother disputes the verdict, claiming the truth did not emerge at trial.

Three co-defendants—Luis Banuelos, Pierre Louis and Mishael Mann—were charged in August 2025 with kidnapping for ransom, first-degree residential robbery and home invasion robbery in concert. All have pleaded not guilty, remain to be tried and maintain their innocence. Halem faces additional charges over insurance fraud and a second crypto robbery alleged to have occurred days before the Koreatown raid, with those charges remaining allegations.

So-called wrench attacks, in which criminals use violence to coerce crypto holders, are rising globally. CertiK recorded 52 such attacks worldwide in the first half of 2026 with losses of $124.1 million.