Crypto Firm Owners Plead Guilty to Tax Evasion, Face up to 5 Years in Prison

Crypto Firm Owners Plead Guilty to Tax Evasion, Face up to 5 Years in Prison

The owners of a cryptocurrency firm that raised approximately $24 million from more than 13,000 investors have pleaded guilty to tax evasion. “These crypto-savvy defendants exploited an emerging technology, lying to their investors, pocketing the proceeds, and concealing the income from the IRS,” said acting U.S. Attorney Chad Meacham. Crypto Firm’s Founders Face up to 5 Years in Jail The U.S. Department of Justice (DOJ) announced Tuesday that the owners of a cryptocurrency company have pleaded guilty to tax evasion. Bitqyck founders Bruce Bise and Samuel Mendez were....


Related News

Unlicensed Bitcoin Exchange Operators Plead Guilty in Louisiana

A Louisiana man and his son have plead guilty to running an unlicensed bitcoin exchange, the US Department of Justice said today. According to the Justice Department, Randall Lord and his son, Michael, plead guilty to one count of conspiracy to operate an unlicensed money services business. Further, the Lords allegedly failed to report cash receipts in excess of $10,000. The elder Lord also plead guilty to a charge of conspiracy to distribute the anti-anxiety medication alprazolam. The Justice Department said in a statement: “According to the guilty plea, from at least 2013 to 2015, the....

Silk Road 2.0 Admin Gets an 8-Year Prison Sentence

28-year-old Brian Farrell aka “DoctorClu”, a senior admin and second-in-command on Silk Road 2.0, the copycat clone of the original underground darknet website Silk Road was sentenced to eight years in prison. DoctorClu, the right-hand man to Silk Road 2.0 chief Blake Benthall aka “Defcon” and second-highest admin at Silk Road 2.0 was sentenced to 8 years in prison after pleading guilty to one count of distribution of cocaine, heroin and methamphetamine. Brian Farrell, plead guilty in March 2016 and his plea was accepted the following month. The charge carries a minimum sentence of five....

‘Doctor Bitcoin’ Pleads Guilty to Running Illegal Crypto Exchange in US, Face...

A Texas man, who calls himself “Doctor Bitcoin,” has pleaded guilty to running an illegal cryptocurrency exchange business, converting cash to bitcoin. He faces five years in federal prison. Crypto Exchange Operator Pleads Guilty The U.S. Department of Justice (DOJ) announced Tuesday that a Texas resident, Mark Alexander Hopkins, has pleaded guilty to “illegally operating a cash-to-cryptocurrency conversion business.” The 42-year-old man, who calls himself “Doctor Bitcoin,” pleaded guilty to one count of operation of an unlicensed money transmitting....

Bitmex Charged With US Rules Violations — Owners Face Criminal Charges, Prison

Cryptocurrency derivatives trading platform Bitmex has been charged with illegally operating in the U.S. Concurrently, its executives, including CEO Arthur Hayes, have been charged with violations of the Bank Secrecy Act and are facing prison sentences. One of the Bitmex founders has already been arrested. Bitmex and Owners Charged in US Federal prosecutors and the Commodity Futures Trading Commission (CFTC) independently announced parallel actions against the cryptocurrency derivatives trading platform Bitmex and its owners on Thursday. The CFTC has charged five entities and three....

Senior Silk Road 2.0 Admin Gets Eight Years Prison

The aftermath of the Silk Road 2.0 marketplace bust in 2014 continues, with its second-in-command administrator sentenced to eight years in prison. Police found packaged Xanax in Farrell’s home. Brian Farrell was sentenced on June 3 at the United States District Court for the Western District of Washington at Seattle, to the exact term requested by....