2018-6-11 21:53 |
A Los Angeles bitcoin trader faces more than two years in jail for having operated what prosecutors say is an illegal money transmitting business.
Fifty-year-old Theresa Tetley, who worked under the name “Bitcoin Maven,” made at least $300,000 a year from trading bitcoin on Localbitcoins.com between 2014 and 2017, according to NBC Los Angeles.
A Detroit bitcoin trader was sentenced in December 2017 to 366 days in jail for similarly operating an unlicensed money services business.
Sal Mansy funneled bitcoin transactions – also using localbitcoins.com – through a corporation he owned, ultimately conducting $2.4 million-worth of bitcoin transactions over a two-year period.
In another case linked to Localbitcoins, father and son trading team Randall and Michael Lord were last May handed down jail sentences of 106 months and 46 months, respectively, for running an unlawful money business.
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