A The golden state guy has actually been punished to 3 years in government jail “for running an unlicensed service that traded a minimum of $13 million in bitcoin and also cash money, commonly for medication traffickers,” the United State Division of Justice claimed. He consented to surrender numerous properties, consisting of taken cryptocurrency.
Bitcoin Exchange Driver Sentenced to 3 Years behind bars
The United State Division of Justice (DOJ) revealed Thursday that a The golden state guy, Hugo Sergio Mejia, was punished “to 36 months in government jail for running an unlicensed service that traded a minimum of $13 million in bitcoin and also cash money, commonly for medication traffickers.”
The 50-year-old San Bernardino Area guy begged guilty on July 1 to “one matter of running an unlicensed money transferring service and also one matter of money laundering,” the DOJ described.
Mejia ran a cryptocurrency exchange service transforming bitcoin to pay and also the other way around from Might 2018 to September 2020. He billed compensations for these deals however never ever registered his service with the Financial Crimes Enforcement Network (FinCEN). Furthermore, he developed firms to mask his real task, consisting of Worldwide Secure Communications LLC, Globe Secure Information, and also The HODL Team LLC, the Division of Justice described, specifying:
Throughout the virtually 2 1/2- year duration, according to the appeal arrangement, Mejia traded a minimum of $13 million.
The DOJ explained that Mejia consulted with a customer that was collaborating with police a number of times in between Might 2009 and also March 2020 “to exchange bitcoin for 10s of hundreds of bucks in cash money.”
While carrying out an exchange of 14.273 bitcoins for $82,150 in cash money plus charges in March 2020, the customer that dealt with police educated Mejia that “his main consumer was a methamphetamine purchaser in Australia that bought methamphetamine every 4 to 6 weeks and also offered it in Australia for 5 times greater than the standard price in the USA,” the DOJ clarified.
The Justice Division kept in mind, “Mejia and also the customer that was collaborating with police carried out 5 bitcoin- cash money deals that cumulatively surpassed $250,000,” including:
As component of his appeal arrangement with the federal government, Mejia consented to surrender all properties stemmed from the prohibited conduct, consisting of $233,987 in cash money confiscated from houses in Santa Ana and also Ontario, silver coins and also bars, and also roughly $95,587 in numerous cryptocurrency confiscated.
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