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| July 16, 2018

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Convicted Archives -

Model-Actor Convicted of Child Molestation

July 14, 2018 |

A model-actor who had roles in the CBS soap opera The Young and the Restless has been convicted of child molestation. People reports that Corey Sligh was found guilty last month in his native Georgia on charges he molested a girl under 10 years old in 2016. Police said he…
Newser

‘Bachelorette’ contestant convicted of assault and battery

June 14, 2018 |

A contestant on the latest “Bachelorette” season was convicted of indecent assault and battery last month.
FOX News

Sergeant Convicted in Wild Case of Parachute Sabotage

May 25, 2018 |

Victoria Cilliers, an experienced parachuting instructor, knew as soon as she jumped during what was supposed to be a celebratory skydiving trip with her husband in 2015 that something was not right. “The lines were twisted. I was spinning,” she testified in court in London, where a jury on Thursday…
Newser

3 former US Army soldiers convicted in contract killing ordered by international crime boss

April 19, 2018 |

Three former American soldiers were found guilty Wednesday for the murder-for-hire of a female real estate agent in the Philippines whom an international crime boss accused of cheating him in a land deal.
FOX News

Man Convicted After Wife Buried With ‘Guilty’ Cologne

April 10, 2018 |

Perhaps the “Guilty” fragrance in her grave was a giveaway—because it took only 40 minutes Monday for jurors to decide Luc Tieman killed his wife. “I changed my story a lot,” the Maine man admitted Friday when delivering his own closing arguments in his murder trial, against his lawyer’s…
Newser

US Bitcoin Trader Convicted for Illegal Money Transmission and Laundering

April 1, 2018 |

Bitcoin Trader Convicted for Illegal Money Transmission and Laundering

The U.S. government has been cracking down on individuals utilizing the peer-to-peer platform Localbitcoins. This week an Arizona resident named Thomas Costanzo was convicted for money laundering tied to over $ 164,000 worth of cryptocurrency trades.

Also Read: Arizona Localbitcoins Trader Detained by U.S. Homeland Security

Two Years Worth of BTC Trades Investigated

Bitcoin Trader Convicted for Illegal Money Transmission and LaunderingThe U.S. Attorneys Office from the District of Arizona and the Justice Department has convicted a trader named Thomas Costanzo (AKA Morpheus) who exchanged over $ 164,000 worth of BTC on the Localbitcoins platform. The officials claim the investigation stemmed from over two years of transactions. Last year in April news.Bitcoin.com reported on Costanzo’s home being raided and when he was detained by Homeland Security on April 20, 2017. At the time local media outlets suggested that the charges against Costanzo stemmed from a nationwide cryptocurrency anti-money laundering crackdown by U.S. federal agencies.

Besides Localbitcoins Costanzo also ran his own over-the-counter cryptocurrency sales and prosecutors charged him with five counts of money laundering on March 28, 2018.

“In the advertisement, Costanzo advertised that he was willing to engage in cash transactions up to $ 50,000,” explains the Arizona Attorney’s Office.   

When undercover federal agents approached Costanzo and told him that they were drug dealers, Costanzo provided them with bitcoin and told them it was a great way to limit their exposure to law enforcement.

Bitcoin Trader Convicted for Illegal Money Transmission and Laundering

The Anti-Money Laundering Crackdown by U.S. Federal Agencies

The report then goes on to detail that Costanzo received approximately $ 164,700 in cash from the undercover agents. The law enforcement team also stated the Costanzo used bitcoin to purchase narcotics over the internet. Centralized exchanges that follow AML/KYC laws typically charge 1-2 percent for transaction and officers state “Costanzo charged between 7 percent and 10 percent in his peer-to-peer transactions.”

According to the authorities, the investigation was conducted by the IRS, DEA, ICE, Homeland Security, the U.S. Post Office, and local Arizona police forces. Costanzo will face District Judge G. Murray Snow for sentencing on June 11, 2018. All five money laundering charges could bring Costanzo around 20 years in prison, a $ 250,000 fine, or both. Moreover, the Attorneys Office explains a number of bitcoins were seized in the case as well due to forfeiture. There have been other similar money laundering cases in the U.S. where federal agencies allege citizens are transacting illegally with the cryptocurrency bitcoin.

What do you think about the money laundering case against Costanzo? Let us know what you think in the comments below.


Images via Shutterstock, Pixabay, and the Dept. of Justice Logo. 


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TMZ

Ex-College Football Player Convicted of Rape, Faces 18 Years

March 16, 2018 |

An ex-college football standout — once considered one of the best junior college running backs in the country – has been convicted of rape … TMZ Sports has learned. According the the L.A. County District Attorney’s office, 22-year-old…

TMZ.com

Convicted sex offender says electronics should be preserved

January 14, 2018 |

A 38-year-old North Dakota man serving a prison sentence for possession of child pornography is appealing a judicial order that his Xbox and PlayStation 2 be destroyed.
FOX News

Klansman Convicted in Killing of Civil Rights Workers Dies

January 13, 2018 |

A KKK member responsible for the 1964 murder of three civil rights workers in Mississippi has died while serving a 60-year-sentence for manslaughter, the Clarion Ledger reports. The Mississippi Department of Corrections tells NPR that Edgar Ray Killen died Thursday night at the age of 92. He was suffering from…
Newser

Bosnia: Former female fighter convicted of war crimes

December 27, 2017 |

Bosnia’s war crimes court has convicted a former fighter of crimes committed against Bosnian Serb civilians during the country’s 1992-95 war.
FOX News