CEO Sentenced to 18-Month Jail Term for Accepting Bitcoin Bribes to List a Cr...
A South Korean court has sentenced the former CEO of the defunct crypto exchange Coinnest to 18 months in prison. The court also fined him over $61,000, who also was charged for fraud in 2020. Prosecutors Accused Coinnest Executives of Receiving 110 BTC in Bribes According to Fn News, the Supreme Court of Korea determined that Kim Ik-hwan should spend time in jail, as the authorities previously indicted him in 2018 for accepting bitcoin (BTC) bribes. The investigation unveiled that he and other executives received almost $771,270 worth of BTC (at the time) for arranging the listing of an....
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A former supporter of the Bitcoin mining industry and official in several of China’s regional government positions was sentenced by a court in the Zhenjiang Province. Xiao Yi was found guilty of abusing power and accepting over $20 million in bribes while serving as a public agent. Related Reading: Cardano (ADA) Has Finally Become King […]
A bitcoin seller has been sentenced to one year and one day in jail for defrauding customers, according to a notice by the U.S. Department of Justice (DOJ). The man took money from customers but did not provide them with the agreed-upon bitcoin.
Fraudulent Bitcoin Seller Going to Jail
The U.S. Department of Justice (DOJ) announced last week that Michael Yusko has been sentenced to one year and one day in prison “for defrauding customers through unlicensed bitcoin business.”
The 47-year-old resident of New Orleans sold bitcoin and other....
The U.S. has sentenced a creator of video streaming and downloading websites to prison for 12 months and one day. The feds also seized $3.9 million from him, including more than $1 million in cryptocurrency. Man Sentenced to Jail for Copyright Infringement and Tax Evasion, His Cryptocurrency Seized The U.S. Department of Justice (DOJ) announced Friday that Talon White from Newport, Oregon, has been “sentenced to federal prison for creating illegal video streaming and downloading websites.” The DOJ further described that the 31-year-old built the websites to “illegally....
Robert M Faiella, the bitcoin trader charged alongside BitInstant CEO Charlie Shrem, has been sentenced to four years imprisonment in New York. Faiella, otherwise known as 'BTCKing', pleaded guilty to operating an illegal money transmission business after he exchanged fiat currency for bitcoins that were then used to buy drugs on the Silk Road marketplace. According to a Bloomberg report, Faiella said: "At the time of the event, I saw no other way ... it still doesn't mitigate that I broke the law." Faiella, a 53 year-old Florida native, is a former plumber who claimed he had turned to the....
An Australian man has now been sentenced to jail after finding himself millions of dollars richer following an accidental refund from Crypto.com—the 13th largest cryptocurrency exchange by trading volume. According to the report, the Australian man named Jatinder Singh, aged 39, and his “then-partner” Thevamanogari Manivel, 41, were sent roughly $10.47 million by Crypto.com due […]