Skip to content
Pico y Pala – Bitcoins, Ethereum, Ripple,…

Unlicensed crypto change operator faces 25 years for laundering $13m

02/02/2021

A California resident is anticipated to plead responsible to costs of working an unlicensed change and laundering greater than $13 million.

49-year-old peer-to-peer crypto dealer, Hugo Sergio Mejia, has agreed to plead responsible to costs of cash laundering and working an unlicensed cash transmitting enterprise.

The U.S. Legal professional’s Workplace accuses Mejia of utilizing a set of restricted legal responsibility companies to hide the true nature of his operations whereas exchanging money for Bitcoins over a interval spanning greater than two years.

The grievance accuses Mejia of transferring funds between Bitcoin and U.S. {dollars} price at the very least $13 million for purchasers from Might 2018 and September 2020 utilizing his firms Worldwide Safe Communications, World Safe Knowledge, and The HODL Group.

Based on the proposed plea settlement, Mejia negotiated with a consumer who was cooperating with legislation enforcement to change Bitcoin for tens of hundreds of {dollars} in money between Might 2019 and March 2020.

Regardless of the consumer informing Mejia that his major buyer was an Australian methamphetamine purchaser throughout a gathering in March 2020, Meija was keen to proceed with the transaction. The grievance states Mejia carried out transactions price greater than 1 / 4 of 1,000,000 {dollars} for the consumer:

“Mejia and the consumer who was working with legislation enforcement performed 5 Bitcoin-cash transactions that cumulatively exceeded $250,000, the plea settlement states.”

The consumer performed at the very least 5 transactions price greater than $250,000 in whole.

As a part of his plea deal, Mejia has agreed to forfeit nearly $234,000 in money and roughly $95,500 in cryptocurrency and metals that had been discovered at his California residences.

The deal additionally mandates that any more, Meija will “preserve, at most, one digital forex pockets, and that one pockets shall be used for all private transactions, restricted to solely utilizing and possessing open public blockchain digital currencies and restricted from utilizing privacy-based blockchain digital currencies.”

Mejia was charged on Friday, Jan. 29, and is anticipated to plead responsible to 1 depend of cash laundering and one depend of working an unlicensed cash change which he didn’t register with the Treasury Division’s Monetary Crimes Enforcement Community (FinCEN).

Mejia is anticipated to go earlier than a U.S. district courtroom in March and faces a most statutory sentence of 25 years behind bars in federal jail.