Tag: Money Laundering

US Man Pleads Guilty to Money Laundering Charges Involving $13M in Bitcoin
Crypto News

US Man Pleads Guilty to Money Laundering Charges Involving $13M in Bitcoin

A California man has entered into a plea agreement with U.S. authorities after being charged for operating an unlicensed company that exchanged millions of dollars in bitcoin for cash.According to a press release from the U.S. Department of Justice on Friday, Hugo Mejia, 49, pleaded guilty to a two-count charge of operating an unlicensed money transmitting business and money laundering.From May 2018 to September 2020, Mejia operated a digital currency business that exchanged cryptocurrency for cash, taking commissions for transactions conducted on his platform.Mejia failed to register his business with the U.S. Financial Crimes Enforcement Network – an agency within the Department of the Treasury that aims to safeguard against financial crime through data collection and a...