A man in California has been sentenced to 87 months in prison for involvement in Bitcoin money laundering
According to Decrypt, a 29-year-old man from San Francisco, California named John Khuu has been sentenced to 87 months in federal prison after admitting to conspiracy to commit money laundering and conspiracy to operate an unlicensed money transmitting business. Texas police say that Khuu's business imported ecstasy pills from Germany and sold them on various dark web markets, accepting Bitcoin as payment. It is alleged that Khuu then converted the Bitcoins stored in seller accounts into US dollars and laundered this dirty money through hundreds of transactions and dozens of financial accounts. The man was also separately charged with illegal importation of a Schedule I controlled substance in the Northern District of California. His arrest was part of Operation Crypto Runner, a multi-year joint investigation launched by the Department of Justice (DOJ), United States Secret Service (USSS) and Postal Inspection Service (PIS) since November 2022.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Data: A certain whale sold 7,621 ETH in the past 3 days, cashing out approximately $23.85 million.
Pudgy Penguins will launch a brand animation at the Las Vegas Sphere during Christmas.
Data: Suspected BitMine new wallet withdraws over 23,600 ETH from an exchange, worth approximately $73.4 million
US SEC Issues Crypto Asset Custody Guidelines, Systematically Outlines Wallet Types and Key Risks