Owner of Crypto Exchange RG Coins Gets 10 Years in Prison for Laundering $5M

The U.S. has sentenced a cryptocurrency exchange owner to 10 years in prison. He “knowingly and intentionally engaged in business practices designed to both assist fraudsters in laundering the proceeds of their fraud and to shield himself from criminal liability,” the Department of Justice alleges. Crypto Exchange Owner Sentenced to 10 Years in Prison The U.S. Department of Justice (DOJ) announced Tuesday that a bitcoin exchange owner has been sentenced to 121 months in prison “for his role in a transnational and multimillion-dollar scheme to defraud American....

The operator of a Bulgarian crypto exchange has received a 10-year prison sentence for money laundering in connection with an Eastern European cybercrime syndicate. Rossen Iossifov, the convicted owner of the RG Coins crypto exchange platform has been sentenced to 10 years imprisonment for money laundering.As previously reported by Cointelegraph, a federal jury in Frankfort Kentucky found the Bulgarian national guilty of conspiracy to commit racketeering and money laundering back in Sep. 2020. The guilty verdict came after only a two-week trial period.According to the United States Justice....

Russian crypto exchange BTC-e’s operator Alexander Vinnik has now been sentenced to five years in prison by a French court and fined 100,000 euros. He was arrested over three years ago in Greece, extradited to France, and is wanted in the U.S. and Russia. Vinnik Sentenced After 3+ Years Alexander Vinnik, the operator of the now-defunct Russian cryptocurrency exchange BTC-e, was sentenced on Monday to five years in prison by a French court for money laundering. The 41-year-old is also ordered to pay fines of 100,000 euros ($121,270). While convicted of money laundering, Vinnik was....

Alexander Vinnik, an alleged BTC-e operator, was found guilty of money laundering in France and sentenced to five years in prison.

Former CEO Faruk Fatih Özer of the bankrupt Turkish crypto exchange Thodex has been given a record-breaking prison sentence for stealing $2 billion in customer funds. Crypto CEO Sentenced To 11,196 Years Prison Sentence On Thursday, September 7, 2023, the former CEO of Thodex, which was one of the biggest cryptocurrency exchanges in Turkey, was reportedly sentenced to 11,196 years, 10 months, and 15 days in prison for several criminal charges including fraud, leading a criminal organization, and money laundering by the Anatolian 9th Heavy Penal Court. Related Reading: Shiba Inu Community....