Bitcoin Exchange Operator Indicted for Credit Union Capture
One of the operators of the now-defunct bitcoin exchange Coin.mx has been indicted for his alleged role in turning a New Jersey credit union into a conduit for illicit transactions. In an indictment filed last week, US prosecutors said that Yuri Lebedev allegedly played a role in running Coin.mx, a Florida-based exchange that operated as a membership-style "Collectible's Club" in an effort to skirt money transmission statutes. As previously reported by CoinDesk, Lebedev and alleged co-conspirator Anthony Murgio were arrested in July. Prosecutors filed a superseding indictment against....
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A Florida man pled guilty yesterday after being indicted in a case tied to the now-defunct Florida bitcoin exchange Coin.mx. Michael Murgio, father of Coin.mx operator Anthony Murgio, allegedly took part in a plan to gain control of a New Jersey credit union. That plan, according to prosecutors, involved paying off senior officials at the Hope Federal Credit Union, which has since been shuttered. The elder Murgio was arrested in April, and this week pled guilty to a charge of conspiracy to obstruct an examination of a federal financial institution. He faces as many as five years in prison.....
A New Jersey pastor and former credit union executive has been indicted for allegedly taking bribes from the now-defunct bitcoin exchange Coin.mx. As previously reported by CoinDesk, Coin.mx operators Anthony Murgio and Yuri Lebedev were arrested last summer and charged with running an illegal money services business. Prior to its closure, Coin.mx functioned by way of a so-called “Collector’s Club”, in which customers were considered members of a private organization. Prosecutors allege that this structure was used to obscure the nature of the exchange. Pastor Trevón Gross, named in a....
A bitcoin ATM operator has been indicted in New York for running an illegal business “marketed towards individuals engaged in criminal activity.” The district attorney in charge described: “Robert Taylor allegedly went to great lengths to keep his bitcoin kiosk business as secret as possible to attract a clientele that would pay top dollar for anonymity.”
Operator of 46 Bitcoin ATMs Charged
Manhattan District Attorney Alvin Bragg Jr. announced Wednesday that Robert Taylor has been indicted “for operating an illegal bitcoin ATM business....
The credit union industry is following the lead of hackers and thieves, according to Jeff Johnson, chief information officer at Illinois-based Baxter Credit Union (BCU). "This is going to sound strange," he said. "[But] criminals, no matter how much you hate them, are really smart people. They take the path of least resistance." In his mind, if it’s working for international payments on the black market, there has to be a way to leverage the technology for above-board use that is just as robust, anonymous and secure. It's one of the reasons BCU has joined 55 other....
A Colorado credit union wants the states' marijuana industry to bank with it. Its fate, however, is up to a federal judge after Fourth Corner Credit Union filed a pair of lawsuits in Denver this week against the US Federal Reserve and the National Credit Union Administration. The two federal institutions denied the Credit Union's applications to serve the marijuana industry. Fourth Corner, chartered by the State of Colorado Division of Financial Services in November 2014, was created to serve the state's marijuana industry. The credit union has waited on the okay from federal insurers and....