'Bitcoin Maven' Gets A Year In Prison For Bitcoin Money Laundering
- A California-based bitcoin trader, called as "Bitcoin Maven" was sentenced to one year and a day in federal prison in bitcoin money laundering case. In a statement,
- the US Department of Justice said that Theresa Lynn Tetley, 50, admitted to operating an unlicensed bitcoin-for-cash exchange business and laundering bitcoin that was represented to be proceeds of narcotics activity.
Crypto At A Glance
A California-based bitcoin dealer, called as "Bitcoin Maven" was condemned to multi year and multi day in government jail in bitcoin illegal tax avoidance case.
In an announcement, the US Department of Justice said that Theresa Lynn Tetley, 50, confessed to working an unlicensed bitcoin-for-money trade business and laundering bitcoin that was spoken to be continues of opiates action.
Joined States District Judge Manuel Real gave the decision for leading the illicit business and taking part in unlawful fiscal exchanges including bitcoins.
Notwithstanding the jail term, the previous stockbroker and land financial specialist additionally faces three long stretches of administered discharge, and a fine of $20,000. Tetley was likewise requested to relinquish 40 Bitcoin worth around $270,000 as of Monday, $292,264.00 in real money, and 25 grouped gold bars that were the returns of her illicit movement.
Tetley confessed of working an unlicensed cash transmitting business and illegal tax avoidance in the administration's case, which is said to be the first of this kind charged in California.