2018-7-12 09:36 |
The latest cryptocurrency criminal to get the book thrown at them is “Bitcoin Maven,” a 50-year-old woman who ran a bitcoin-for-cash exchange operation.
The Department of Justice announced Theresa Lynn Tetley, a former stockbroker and real estate investor, was sentenced to 12 months and one day in federal prison this week for operating an unlicensed money transmitting business and money laundering.
She was also ordered to forfeit 40 Bitcoin (valued at about $250,000), $292,264 in cash, and 25 gold bars acquired through her illegal business.
Advertisement Tetley’s scheme, highlighted by Ars Technica, involved offering people Bitcoin in exchange for cash, which on its face probably doesn’t sound like much of a crime.
She failed to register her operation as a money services business and didn’t offer any sort of “anti-money-laundering mechanisms,” per the Justice Department.
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