Empire Market Co-Founder Sentenced to Decades in Prison
- Raheim Hamilton received a 40-year federal prison sentence and a $5 million fine for his role in operating Empire Market.
- Hamilton’s forfeiture agreement includes approximately 1,230 bitcoin, valued at millions of dollars, along with other assets.
- Empire Market facilitated over $430 million in transactions involving illegal goods from its inception in 2018 until its closure in August 2020.
- Co-creator Thomas Pavey also pleaded guilty and awaits sentencing, with forfeitures including approximately 1,584 bitcoin and gold bars.
- The U.S. Department of Justice highlighted the mandatory use of cryptocurrency for all transactions on the platform to conceal illegal activities.
Raheim Hamilton has been sentenced to a lengthy prison term and significant financial penalties for his involvement in Empire Market, a darknet marketplace that conducted over $430 million worth of illicit transactions using cryptocurrency. His co-conspirator, Thomas Pavey, faces similar charges and awaits sentencing later this month.
(Source)
