Man Sentenced to Six Years for Laundering $1M into Bitcoin
- Trung Nguyen from Danvers, Massachusetts, operated an unlicensed money transmitting business named National Vending.
- Over $1 million was converted into Bitcoin through this operation over three years.
- Nguyen was convicted of laundering $250,000 from a meth dealer and $445,000 from romance scam victims.
- The business lacked anti-money laundering checks and was not registered with the Financial Crimes Enforcement Network.
- Nguyen must forfeit $1.5 million and serve three years of supervised release after his prison term.
Trung Nguyen ran an unlicensed money transmitting business converting over $1 million into Bitcoin, resulting in a six-year prison sentence and forfeiture of $1.5 million.
Source (2.6)https://decrypt.co/321768/man-gets-six-years-for-laundering-1m-into-bitcoin-for-scammers-and-drug-dealers?rand=52368
