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Hayes and his BitMEX co-founders, Samuel Reed and Ben Delo, as well as the company’s first employee, Gregory Dwyer, were initially charged in Oct. 2020 with one count each of violating the Bank Secrecy Act (BSA), and another of conspiring to do so. Original Source
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Though the crime carried a maximum penalty of 20 years, Griffith’s plea deal with federal prosecutors brought the sentence down to a range of 63 to 78 months – approximately five to 6.5 years. Griffith has already spent approximately two years in custody, of which the court will count 10
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Though the potential sentence is a hefty one, it is a fraction of the maximum sentence of 20 years Griffith could have faced if he chose to take his chances with a jury trial. Griffith’s lawyers have asked the court to consider a more lenient sentence of two years, with
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Stefan He Qin, the founder of two cryptocurrency hedge funds has been sentenced to more than seven years in prison after U.S. authorities found that cheated investors out of $54 million,A Sept. 15 statement from the U.S. Department of Justice (DoJ) announced that U.S. District Judge Valerie Caproni handed Qin
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Gemcoin founder Steve Chen was sentenced Monday to 10 years in federal prison for defrauding tens of thousands of investors in one of the largest early cryptocurrency investment schemes.Chen, 63, admitted last February to running U.S. Fine Investment Arts (USFIA) and peddling $147 million in “gem coins” (crypto purportedly backed
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A motor industry employee has been sentenced to eight months' imprisonment, suspended for two years, in a prosecution brought by the Information
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The founders of digital payments processor Payza will serve year-plus prison terms and forfeit $4.5 million in seized assets for breaking federal money transmission laws, the U.S. Department of Justice said.Brothers Firoz and Ferhan Patel, both Canadian, had pleaded guilty in July to a lineup of financial crimes stemming from
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A former Microsoft engineer has been sentenced to nine years for stealing more than $10 million in digital value from his past employer in the form of “currency stored value" (CSV) including gift cards.Volodymyr Kvashuk, a 26-year-old Ukrainian citizen residing in Washington, used the accounts and identities of his fellow
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Paul Calder Le Roux, an admitted drug dealer with a background in encryption, planned to build a bitcoin miner had he beaten the rap. In a last-ditch attempt to avoid incarceration, Le Roux wrote a letter to District Judge Ronnie Abrams, of the Southern District of New York (SDNY), this week
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