USA condemned man to 3 years in prison for the operation of a non-licensed Bitcoin stock exchange business-regulation
USA condemned man to 3 years in prison for the operation of a non-licensed Bitcoin stock exchange business-regulation
A man from California was sentenced to three years of federal prison, "because he did a non-licensed business that has exchanged Bitcoin and cash of at least $ 13 million, often against drug dealers," said the US Ministry of Justice. He agreed to confuse various assets, including confiscated cryptocurrency.
Bitcoin exchange operator sentenced to 3 years in prison
The US Justice Ministry (DOJ) announced on Thursday that a man from California, Hugo Sergio Mejia, was sentenced to 36 months of federal prison because he did a non-licensed business that often exchanged Bitcoin and cash of at least $ 13 million against drug dealers.
The 50-year-old man from San Bernardino County Flehte on July 1. Fall of the operation of a non -licensed money transfer business and a case of money laundering, ”said the Doj.
Mejia was a cryptocurrency stock exchange business that converted Bitcoin into cash and vice versa. He calculated commissions for these transactions, but never registered his business with the Financial Crimes Enforcement Network (fincen). In addition, he founded companies to disguise his true activity, including Worldwide Secure Communications LLC, World Secure Data and The Hodl Group LLC, which executes the Ministry of Justice in detail:
During the almost 2½-year period, Mejia exchanged at least $ 13 million.
The Doj described that Mejia had met several times between May 2009 and March 2020 with a customer who had worked with the law enforcement authorities "to exchange Bitcoin in cash for tenth thousands of dollars".
While he carried out an exchange of 14,273 Bitcoins around $ 82,150 in bar plus fees in March 2020, the customer who worked with the law enforcement informed mejia that "his main customer was a methamphetamine buyer in Australia who bought methamphetamine every four to six weeks". For five times the average price in the United States, ”said the Doj.
The Ministry of Justice stated: "Mejia and the customer who worked with the law enforcement authorities carried out five Bitcoin bar money transactions, which cumulates $ 250,000" and added:
As part of his agreement with the government, Mejia agreed to fulfill all assets that come from illegal behavior, including $ 233,987 in cash, which was confiscated from residences in Santa Ana and Ontario, silver coins and bars and approximately 95,587 US dollar in various confiscated cryptopia.
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