27.1 C
Santo Domingo
sábado, mayo 25, 2024

Crypto Mixer Operator Discovered Responsible for Laundering $400 Million


Roman Sterlingov, the operator of the $400 million Bitcoin Fog crypto mixer, was convicted of cash laundering and different associated expenses in the US yesterday (Tuesday). The decision got here after a four-week-long trial.

The 35-year-old is a citizen of Russia and Sweden and has now been convicted of a number of expenses, together with conspiracy to launder cash, partaking in sting operations to cash laundering, operating an unlicensed cash transmitting enterprise, and violations of the D.C. Cash Transmitters Act.

Based on the US Justice Division, Bitcoin Fog was one of many “longest-running and most prolific Bitcoin cash laundering providers on the darknet.” The platform was operated by Sterlingov from October 2011 to April 2021 and provided providers to “criminals searching for to cover their illicit proceeds from legislation enforcement.”

The platform moved greater than 1.2 million Bitcoin, valued at about $400 million on the time of the transactions. These cryptocurrencies principally got here from darknet marketplaces and have been tied to unlawful narcotics, laptop fraud, and abuse actions, and identification theft. The platform additional served “purveyors of kid sexual abuse materials.”

The jury additional granted forfeiture of seized belongings belonging to Bitcoin Fog, together with over 1,354 Bitcoin held within the platform’s pockets, $349,625 in money, and different cryptocurrencies seized from the accounts on Kraken.

The Sentencing Is Due

Sterlingov is now taking a look at a most jail sentence of fifty years for all of the conviction counts mixed. His sentencing has been scheduled for July 15, 2024.

“Roman Sterlingov thought he might use the shadows of the web to launder tons of of tens of millions of {dollars} in Bitcoin with out getting caught. However he was improper,” stated Deputy Lawyer Normal Monaco.

Jim Lee, the IRS Legal Investigation Chief, acknowledged: “Proof offered at trial clearly confirmed that the defendant laundered tons of of tens of millions of illicit funds from the darkish net via Bitcoin Fog in an try to hide the origin of these funds.”

In the meantime, the lawyer representing Sterlingov, Tor Ekeland, tweeted about their choice to enchantment in opposition to the jury verdict.

The conviction of Sterlingov cements the US authorities’ stance to go in opposition to the Bitcoin mixing providers. Earlier, US prosecutors charged Roman Semenov and Roman Storm, the founders of Twister Money, one other crypto-mixing service. The duo have been blamed for laundering about $1 billion in soiled cash, and the trial is scheduled for later this 12 months.

Roman Sterlingov, the operator of the $400 million Bitcoin Fog crypto mixer, was convicted of cash laundering and different associated expenses in the US yesterday (Tuesday). The decision got here after a four-week-long trial.

The 35-year-old is a citizen of Russia and Sweden and has now been convicted of a number of expenses, together with conspiracy to launder cash, partaking in sting operations to cash laundering, operating an unlicensed cash transmitting enterprise, and violations of the D.C. Cash Transmitters Act.

Based on the US Justice Division, Bitcoin Fog was one of many “longest-running and most prolific Bitcoin cash laundering providers on the darknet.” The platform was operated by Sterlingov from October 2011 to April 2021 and provided providers to “criminals searching for to cover their illicit proceeds from legislation enforcement.”

The platform moved greater than 1.2 million Bitcoin, valued at about $400 million on the time of the transactions. These cryptocurrencies principally got here from darknet marketplaces and have been tied to unlawful narcotics, laptop fraud, and abuse actions, and identification theft. The platform additional served “purveyors of kid sexual abuse materials.”

The jury additional granted forfeiture of seized belongings belonging to Bitcoin Fog, together with over 1,354 Bitcoin held within the platform’s pockets, $349,625 in money, and different cryptocurrencies seized from the accounts on Kraken.

The Sentencing Is Due

Sterlingov is now taking a look at a most jail sentence of fifty years for all of the conviction counts mixed. His sentencing has been scheduled for July 15, 2024.

“Roman Sterlingov thought he might use the shadows of the web to launder tons of of tens of millions of {dollars} in Bitcoin with out getting caught. However he was improper,” stated Deputy Lawyer Normal Monaco.

Jim Lee, the IRS Legal Investigation Chief, acknowledged: “Proof offered at trial clearly confirmed that the defendant laundered tons of of tens of millions of illicit funds from the darkish net via Bitcoin Fog in an try to hide the origin of these funds.”

In the meantime, the lawyer representing Sterlingov, Tor Ekeland, tweeted about their choice to enchantment in opposition to the jury verdict.

The conviction of Sterlingov cements the US authorities’ stance to go in opposition to the Bitcoin mixing providers. Earlier, US prosecutors charged Roman Semenov and Roman Storm, the founders of Twister Money, one other crypto-mixing service. The duo have been blamed for laundering about $1 billion in soiled cash, and the trial is scheduled for later this 12 months.



Related Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest Articles