Californian Trader Found Guilty of Administering Illegal BTC Exchange
November 1, 2018
Jacob Burrell Campos, BTC trader from California, was found guilty of starting illegal BTC platform. Now Campos is facing up to 5 year of imprisonment.
The accused is reported to have received prosecutor’s offer to admit guilt that he finally accepted and pleaded he had organized unlawful BTC platform. In addition, Campos violated from the AML/KYC standards.
The prosecutor’s office told that the accused had sold BTC to the amount of thousands of USD across the whole country. The scheme worked as follows: Campos purchased cryptocurrency via legal US platform and shifted it to the Hong Kong one after his American account was closed due to suspicious operations. After that he bought bitcoins of $3.5 million worth there.
Jacob Campos agreed to pay a penalty charge of $823,000, the sentence will be delivered by the state court in two and a half months.