Before you go! Share this content on any social media platform

A woman who went on for years under the name "Bitcoin Maven" localbitcoins.com– A peer-to-peer website for buying and selling anonymous Bitcoins in person sentenced Monday to 366 days in federal prison, three years supervised release and a fine of $ 20,000.

While selling bitcoins is not inherently illegal, it does so in large quantities without storing extensive anti-money laundering records.

Attorney General in Los Angeles has filed a lawsuit against Theresa Lynn Tetley, a 50-year-old former stockbroker who bought and sold millions of dollars worth of bitcoins, the first of its kind in the region.

The authorities began investigating Tetley intensively in 2016 when, unknowingly, they met with a covert investigator from the drug agency. When DEA agent Tetley said she wanted to remain anonymous, Tetley readily agreed.

Finally, Tetley was introduced to the "friend" of the woman, who was also a secret agent. Over the next few months, the friend made major deals with Tetley, claiming at one point that he had plenty of "cola, meth, and weeds" that had recently been "stolen."

These deals eventually came to a head in March 2017 when Tetley raised $ 300,000.Held in two Trader Joe's paper shopping bags– to buy an equivalent amount of Bitcoins from the wrong friend. Tetley was immediately arrested and eventually pleaded guilty to money laundering.

Tetley was known for doing business with William James Farber arrested last year. The authorities believe he is behind one of AlphaBay's biggest drug rings. Tetley knew Farber only as "David" or "pirate shit," the government said.

"These circumstances indicate that the defendant knew that something was wrong, because" David "wanted it to operate completely outside the regulated financial market, to offer privacy and anonymity, and to maintain a high level of business for him," she wrote Prosecutor in June 2018 Sentencing memorandum, This was also when they asked the judge to impose a 30-month sentence.

"Providing cash in envelopes (and in significant quantities), in coffee shops and restaurants, is not a way to conduct legal business when that volume exceeds millions and someone like the defendant – a former stockbroker and real estate investor – I was aware of that "

Tetley will also lose nearly $ 300,000 in cash, 25 gold bars, and 40 bitcoins worth about $ 255,000 on Tuesday afternoon.

Before you go! Share this content on any social media platform

Source link
SOURCES: TECHCRUNCH.COM GSMARENA.COM MACRUMORS.COM FIRSTPOST.COM ANDROIDCENTRAL.COM PHANDROID.COM TECHSPOT.COM
BLEEPINGCOMPUTER.COM NEOWIN.NET KOTAKU.COM CNET.COM
DROID-LIFE.COM ENGADGET.COM ANDROIDPOLICE.COM
ARSTECHNICA.COM HACKADAY.COM UBERGIZMO.COM
XDA-DEVELOPERS.COM TECHCABAL.COM THEVERGE.COM
GIZMODO.COM SMASHINGMAGAZINE COPYBLOGGER EARTHER.COM
IO9.GIZMODO.COM CLICKHOLE.COM POPULARMECHANICS.COM
ITNEWSAFRICA.COM TECHGISTAFRICA.COM ZDNET.COM

LEAVE A REPLY

Please enter your comment!
Please enter your name here