US Man Selling Bitcoin Without License Faces 5 Years in Prison
A New Orleans resident has been charged for selling bitcoin without registering with the Financial Crimes Enforcement Network (FinCEN). If convicted, the seller may receive a maximum of five years in prison, a maximum $250,000 fine, up to three years of supervised release, and a $100 mandatory special assessment. Bitcoin Seller Faces Jail Time The U.S. Department of Justice (DOJ) announced Thursday that a New Orleans bitcoin seller named Michael Yusko has been charged with operating an unlicensed money transmitting business. The announcement details that “Under federal law, any....
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The U.S. Department of Justice (DOJ) is selling cryptocurrency worth $56 million that was seized from the “number one promoter” of Bitconnect, the largest crypto fraud scheme ever charged criminally. Investors were fraudulently induced to invest over $2 billion. The Bitconnect promoter faces a maximum penalty of 20 years in prison.
US Selling Crypto Worth $56M Seized From Bitconnect’s ‘Number One Promoter’
The U.S. Department of Justice announced Tuesday that it is selling $56 million in seized cryptocurrency to compensate victims of the....
A cryptocurrency founder has been arrested and is facing up to 10 years imprisonment for tax evasion after running an exit scam. He allegedly made millions of dollars from his cryptocurrency and used an elaborate scheme to avoid paying taxes. Crypto Founder Exit Scams, Caught for Tax Evasion The U.S. Department of Justice (DOJ) announced this week that a “cryptocurrency founder” was arrested Thursday and charged with a “multimillion-dollar tax evasion scheme.” The indictment against Amir Bruno Elmaani was unsealed Thursday in Manhattan federal court. In addition,....
The founder of the $3.4 billion crypto Ponzi scheme Bitconnect has been charged in the United States. “If convicted of all counts, he faces a maximum total penalty of 70 years in prison,” said the U.S. Department of Justice. Bitconnect’s Founder Could Go to Prison for 70 Years The U.S. Department of Justice (DOJ) announced […]
A former New Jersey police officer is reported to have plead guilty to attempting to sell stolen bitcoin mining hardware, according to NJ.com. Vincent Saggese, 34, is reported to have admitted to meeting an undercover agent last year where he is alleged to have tried selling computer equipment including bitcoin mining equipment from KnC Miner. A ten-year veteran of Plainfield Police Department, Saggese faces a probation period of up to five years and must serve 50 hours of community service. Bad Cops Linked to Bitcoin. This isn’t the first time, however, that police officers have gone bad....
A Swedish man has been sentenced to 15 years in prison in the U.S. for an investment fraud scheme involving cryptocurrency, including bitcoin. He defrauded thousands of victims of more than $16 million. The U.S. Department of Justice (DOJ) announced Thursday that a “cryptocurrency fraudster” has been sentenced to 15 years in prison “for securities fraud, wire fraud and money laundering charges that defrauded thousands of victims of more than $16 million.” Roger Nils-Jonas Karlsson, a 47-year-old Swedish man, was arrested in Thailand in June 2019. He pleaded guilty....