Man Gets Six Years for Laundering $1M into Bitcoin for Scammers and Drug Dealers

A man who turned into cash into Bitcoin The drug deceitors were sentenced to six years behind bars.

Trung Nguyen of Danvers, Massachusetts led the unlicensed: “No Question” Business for Transfer of Money, Called National Sales, states statement Published by the US Ministry of Justice.

More than $ 1 million has been converted into a cryptocurrency during a three -year period, and Nguyen has received compensation in exchange.

The 48-year-old was convicted of accepting $ 250,000 in cash from a man who identified himself as a Met-I-i-I $ 445,000 from the victims of romantic frauds that had been pushed into BTC’s sent to artists abroad.

NGYUEN also took steps to cover its marks, speaking to banks and Crypto exchange That his company was actually a car business.

Encrypted message exchange applications have been used to communicate with customers, while BTC transactions are deceived, which makes it difficult to monitor the flow of funds.

When earning greater cash deposits greater than $ 10,000, the funds would be grabbed into smaller pieces over several days or divided between banks.

He even enrolled in the course so he could learn how to cover up his job, told to “develop a cover”, generate a fictional list of suppliers and never says the word “bitcoin”.

Judge Richard G. Sterns ordered Nguyen to take away $ 1.5 million and ordered him to serve three years of controlled release after prison.

When Nguyen was convicted after a five -day trial last November, he is acting as an American lawyer Joshua Levy had a message For money laundering: Bitcoin will not allow you anonymous cleaning of dirty means.

“The object of this defendant” did not ask “money laundering operations made it possible for a famous drug dealer to turn his dirty money into a more deadly met to pump our streets, and it made it possible to deceive vulnerable victims from his hard -earned savings,” Levy said.

The national salesman operated between September 2017 and October 2020, but he lacked his money laundering checks and was not registered in a network for conducting financial crimes.