US Sentences Man to 3 Years in Prison for Operating Unlicensed Bitcoin Exchan...
A California man has been sentenced to three years in federal prison “for operating an unlicensed business that exchanged at least $13 million in bitcoin and cash, often for drug traffickers,” the U.S. Department of Justice said. He agreed to forfeit various assets, including seized cryptocurrency. Bitcoin Exchange Operator Sentenced to 3 Years in Jail The U.S. Department of Justice (DOJ) announced Thursday that a California man, Hugo Sergio Mejia, was sentenced “to 36 months in federal prison for operating an unlicensed business that exchanged at least $13....
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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....
In what seems like a further crackdown on freedoms in Hong Kong, the Securities and Futures Commission (SFC) said Bitcoin exchanges operating in the territory should be subject to licensing. The SFC proposal seeks to enforce the ruling by levying heavy fines and tough prison sentences on non-compliant persons. The Hong Kong government also confirmed […]
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....
A cryptocurrency trader has been convicted in the U.S. for operating an unlicensed money-transmitting business using Localbitcoins and Paxful. He faces up to five years in federal prison and a possible $250,000 maximum fine.
Crypto Trader Pleads Guilty
The U.S. Department of Justice (DOJ) continues to take action against crypto traders using services such as Localbitcoins and Paxful to buy and sell cryptocurrencies as a business without a license. The latest such case involved Hien Ngoc Vo, a 49-year-old man from Seattle, Washington, who operated an unlicensed crypto business in....
The founder of two cryptocurrency hedge funds in New York, Stefan Qin, has been sentenced to 7.5 years in prison and three years of supervised release. He is also ordered to forfeit about $55 million. The Department of Justice (DOJ) said that he “engaged in a scheme to steal assets” from his hedge funds and defraud investors.
Crypto Hedge Fund Founder Gets 7.5 Years in Jail
Stefan Qin, the founder of two cryptocurrency hedge funds in New York, has been sentenced to 7.5 years in prison, the U.S. Department of Justice (DOJ) announced last week.
Qin, a....