A California man was sentenced to greater than seven years behind bars on fees associated to working an underground drug-trafficking market powered by Bitcoin (BTC) transfers.
Federal prosecutors say John Khuu illegally imported counterfeit pharmaceutical and MDMA capsules from Germany and subsequently used darkish internet markets to distribute the illicit substances to prospects throughout the US.
Khuu, 29, was paid in Bitcoin and different crypto property, which he and his co-conspirators exchanged for US foreign money that was then laundered and transmitted to dozens of various accounts.
The California resident was indicted in Could 2022 within the Jap District of Texas and charged with conspiracy to commit cash laundering. Three months later, Khuu was additionally indicted within the Northern District of California and charged with illegal importation of a Schedule I managed substance. He was arrested by brokers in Backyard Grove, California just a few days after the second indictment.
Khuu’s arrest was the results of “Operation Crypto Runner,” a multi-agency regulation enforcement effort that resulted in a batch of fees filed towards 21 people for his or her alleged involvement in transnational cash laundering networks.
Final 12 months, Khuu pled guilty to conspiracy to commit cash laundering, conspiracy to function an unlicensed money-transmitting enterprise and importation of MDMA.
This week, U.S. District Decide J. Campbell Barker sentenced him to 87 months in federal jail.
Comply with us on X, Facebook and Telegram
Do not Miss a Beat – Subscribe to get electronic mail alerts delivered on to your inbox
Examine Price Action
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Day by day Hodl will not be funding recommendation. Buyers ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital property. Please be suggested that your transfers and trades are at your personal threat, and any losses you might incur are your accountability. The Day by day Hodl doesn’t advocate the shopping for or promoting of any cryptocurrencies or digital property, neither is The Day by day Hodl an funding advisor. Please be aware that The Day by day Hodl participates in affiliate internet marketing.
Generated Picture: Midjourney
