Former LAPD Officer Convicted in Violent $350K Bitcoin Heist
A former Los Angeles Police Department officer was found guilty Monday of kidnapping and robbery after he and a crew of accomplices impersonated police officers to steal $350,000 in Bitcoin from a 17-year-old in a Koreatown high-rise.
- Former LAPD officer convicted of kidnapping and robbery over a $350,000 Bitcoin heist.
- Fake police raid used vests, handcuffs, and insider access to target a 17-year-old.
- Victim threatened with violence before handing over crypto hard drive.
- Jury rejected defense claim about the origin of the Bitcoin.
Eric Halem, 38, was convicted March 2, 2026, following less than a day of jury deliberation at Los Angeles County Superior Court. Sentencing is scheduled for March 31.
The Robbery
On December 28, 2024, Halem and his co-conspirators entered a residential high-rise wearing police vests and told occupants they were there to execute a search warrant. They used an access code – provided by an inside contact – to bypass building security. Once inside the unit, they restrained the victim’s girlfriend using LAPD-issued handcuffs.
When the 17-year-old returned to the apartment, the men threatened to shoot him in the foot, waterboard him, and kill him. He eventually handed over a hard drive holding the cryptocurrency. The entire operation bore the hallmarks of a calculated, intelligence-driven heist rather than an opportunistic crime.
Who Is Eric Halem?
Halem spent 13 years with the LAPD before resigning in 2022. At the time of the robbery, he held the status of active reserve officer — a detail prosecutors leaned on heavily to establish how he obtained department-issued restraints and understood police protocols well enough to sell the impersonation.
Outside law enforcement, Halem ran DriveLA, a luxury car rental business, and was reportedly in development on a reality TV show centered on his lifestyle. He was already under investigation for insurance fraud involving a staged accident with a Bentley when he was arrested for the Bitcoin theft — a sequence of events that painted a portrait of someone long comfortable bending rules before crossing into violent crime.
Halem’s legal team attempted to muddy the waters at trial by eliciting testimony suggesting the victim’s cryptocurrency was itself obtained through fraud. The argument did not move the jury. The origin of stolen property has no bearing on whether a robbery occurred, and deliberations wrapped up quickly.
A Growing Pattern
The case fits an increasingly recognized template: criminals using the perceived authority of law enforcement to coerce victims into surrendering digital assets. Cryptocurrency, unlike cash, leaves no physical trace once transferred — making it a high-value target for organized theft operations willing to use violence.
The parallels to the 2024 federal conviction of Remy St Felix are notable. St Felix led an interstate ring that kidnapped victims across multiple U.S. states to extract Bitcoin access through physical force. Halem’s case suggests the tactic has taken root at the local level as well, with participants drawn from institutions that provide both tactical knowledge and credibility.
Halem’s co-defendants, including Gabby Ben, have not yet stood trial. Prosecutors allege Ben has ties to the Israeli criminal underground and was closely connected to Moshe Matsri. The broader network behind the robbery remains an open question as those cases proceed.
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Alex is Editor-in-Chief of Coindoo and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
