Texas man jailed for money laundering $1.4 million in cryptocurrency – Bits Media

The Department of Justice for the Eastern District of Texas reported, that a member of a group of fraudsters was sentenced to three years in prison for illegal transactions with digital assets.

The Ministry of Justice issued a press release, Which is said, that Dipendra Bhusal (Deependra Bhusal) sentenced to 46 months in federal prison for his involvement in money laundering using cryptocurrencies.

Law enforcement agencies clarify, that Bhusal created email addresses and opened bank accounts, which were used to place money stolen by crypto fraudsters. Texan, follows from the case materials, ensured the concealment of sources of illegally acquired money.

The convicted person split large amounts of illegal transactions into shares of less than $10 000, so as not to indicate them in tax reporting and not to attract unnecessary attention from law enforcement, as well as regulatory authorities. Ministry of Justice says, that Bhusal was "personally responsible" for laundering more than $1.4 million in cryptocurrency, obtained illegally.

It follows from the verdict, that the Texan acted as part of an organized group, which besides him included two more people. 75-year-old Lois Boyd was identified as the perpetrator's accomplices. (Lois Boyd) and 33-year-old Manik Mehtani (Manik Mehtani), Virginians.

Virginians charged with money laundering, conspiracy to commit money laundering and violation of the Crypto Travel Rule. Remarkably, that Bhusal was sentenced to less than four years in prison, and his accomplices should receive up to 20 years of imprisonment each.

This week, US authorities confiscated cryptocurrency worth $34 million for a resident of Florida, who hacked accounts of popular services and sold this data on the darknet.