The U.S. Department of Justice accuses 36-year-old Kias Muhammed of alleged money laundering using Bitcoin ATMs. The stated amount is between $ 15 and $ 25 million.
A person in the US city of Los Angeles is charged with accusing money using a Bitcoin ATM and also illegally operating Bitcoin and crypto ATMs.
The U.S. Department of Justice brought 3 charges to 36-year-old Kais Muhammed: operating money machines without licenses, money laundering, and not using a program to prevent money laundering. It is estimated that Mohammed was laundering money between 15 and 25 million dollars.
25 percent commission!
It is stated that he accepted the crimes of Muhammed and reached an agreement with the court. Providing illegal money exchange services called Herocoin between 2014 and 2019, Mohammed met with his customers in public places and bought and sold Bitcoin by getting up to 25 percent commissions.
He did not question the source of money
In the press release published by the Ministry of Justice, it was stated that Muhammed did not question the source of the money that came to him, and that he knowed that he knew the money he knew was from the dark web. It is stated that Mohammed, who stated that he bought 17 ATM machines in Los Angeles, sometimes allows his customers to make transactions from here, but also controls the transactions on the screen.
It is stated that Mohammed, a former bank employee, deliberately did not report his work to the Financial Crimes Control Network (FinCEN) of the Treasury Ministry but he registered after the institution contacted him in 2018. Despite this record, he did not comply with the law in any way.
Agents contacted and did business
After all these events, the agency’s agents contacted Muhammed and did $ 13,500. Mohammed never stated these money changes to the necessary authorities.
He did not report any transactions
The agents continued to deal with him, telling Muhammad that they were working in a karaoke bar and that there were illegal sexual activities there. One of the personal transactions was $ 16,000, but Mohammed did not report it to the authorities.
It is stated that he is facing a prison sentence of up to 30 years, despite the agreement that Muhammed made and delivered all the money, ATMs and crypto money.