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| August 16, 2018

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Prison Archives -

Aryan Brotherhood Leader Found Dead in Prison Cell

July 29, 2018 |

Barry Byron Mills, the murderous leader of the Aryan Brotherhood prison gang died this month in federal lockup, where he spent much of his life, according to a report Sunday. Mills, also known by the nickname “Baron,” was found dead July 8 in his single-person cell at the supermax prison…
Newser

CNN

Palestinian teen who slapped Israeli soldier freed from prison

July 29, 2018 |

Palestinian teenager Ahed Tamimi has been freed from an Israeli prison after serving an eight-month prison sentence for slapping a soldier, according to a spokesman for Israel’s Prison Authority. Tamimi’s mother, Nariman Tamimi, was also released.
CNN.com – RSS Channel – World

Larry Nassar Attacked in Prison, Lawyer Says

July 25, 2018 |

Within hours of being released into the general prison population in late May, Larry Nassar was attacked by other inmates, according to a Tuesday court filing by his lawyer. Nassar’s attorney filed the documents to appeal the sentence handed down to the sports doctor, who pleaded guilty to sexual assault…
Newser

Killer Escaped From Prison, Got Ride From Unlikely Source

July 19, 2018 |

A newspaper editor picked up a twice-convicted killer who asked for a ride in Mississippi, not realizing he’d just escaped from prison. Michael “Pretty Boy Floyd” Wilson, serving life sentences for the 2014 killings of two men, jumped a fence at the South Mississippi Correctional Institution in Leakesville on July…
Newser

Localbitcoins Trader Sentenced to One Year in Prison

July 11, 2018 |

Localbitcoins Trader Sentenced to One Year in Prison

A Southern Californian Localbitcoins trader has been sentenced to prison for a year for unlicensed money transmitting and money laundering. The trader, Bitcoin Maven, reportedly exchanged between $ 6 and $ 9.5 million for customers across the country, according to the notice by the U.S. Department of Justice.

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

One Year in Prison for Localbitcoins Trader

The U.S. Department of Justice (DOJ) announced on Monday that Theresa Lynn Tetley, also known as Bitcoin Maven, has been sentenced to one year in federal prison. The announcement reads:

‘Bitcoin Maven,’ who admitted to operating an unlicensed bitcoin-for-cash exchange business and laundering bitcoin that was represented to be proceeds of narcotics activity, was sentenced today to 12 months and one day in federal prison, three years of supervised release, and a fine of $ 20,000.

Localbitcoins Trader Sentenced to One Year in PrisonFormer stockbroker and real estate investor, the 50-year-old Southern Californian was sentenced by U.S. District Judge Manuel L. Real “for conducting an illegal business and engaging in unlawful monetary transactions involving bitcoins,” the DOJ wrote. She “pleaded guilty to one count of operating an unlicensed money transmitting business and one count of money laundering.”

The Justice Department further revealed that “Tetley was also ordered to forfeit 40 bitcoin, $ 292,264.00 in cash, and 25 assorted gold bars that were the proceeds of her illegal activity.”

News.Bitcoin.com first reported on this case last month when the persecutors asked the judge to sentence Tetley to 30 months in federal prison.

Selling BTC Without License

Localbitcoins Trader Sentenced to One Year in PrisonThe Drug Enforcement Administration and IRS Criminal Investigation unit investigated this case. The DOJ explained that Tetley offered bitcoin exchange services without registering with the Financial Crimes Enforcement Network (Fincen) as a money services business. She also did not establish “anti-money laundering mechanisms such as customer due diligence and reporting certain transactions required for these types of businesses,” the Justice department divulged, adding:

Tetley advertised on localbitcoins.com and exchanged, in total, between $ 6 and $ 9.5 million for customers across the country, charging rates higher than institutions that were registered with Fincen.

The authority concluded that by operating this unregistered business, “Tetley facilitated laundering for one individual who is suspected of receiving bitcoin from unlawful activity, such as sales of drugs on the dark web.” Moreover, she “also conducted an exchange of bitcoin-for-cash for an undercover agent who represented that his bitcoins were the proceeds of narcotics trafficking.”

Crackdown on Illicit Use of Crypto

Localbitcoins Trader Sentenced to One Year in PrisonIn the sentencing documents, the government claimed that Tetley’s business “fueled a black-market financial system,” citing “the growth of the dark web and the use of digital currency, unlicensed exchangers provide an avenue of laundering for those who use digital currency for illicit purposes.”

The U.S. Government has been actively trying to crack down on the illicit use of cryptocurrencies.

Last month, a high-ranking official of the U.S. Secret Service gave a testimony before the House of Representatives. He urged Congress to consider additional legislation to address anonymity-enhanced cryptocurrencies and services intended to obscure transactions on blockchains.

Also last month, the House unanimously passed Bill H.R. 6069 to help prevent the illicit use of cryptocurrencies, including bitcoin, dash, zcash, and monero.

What do you think of the sentencing for Bitcoin Maven? Let us know in the comments section below.


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The post Localbitcoins Trader Sentenced to One Year in Prison appeared first on Bitcoin News.

Bitcoin News

‘Bitcoin Maven’ sentenced to a year in prison for money laundering

July 10, 2018 |

Bitcoin and other cryptocurrencies have for years been a preferred payment method on the so-called dark web — anything-goes corners of the internet where you can find drugs and other illegal products and services.

But once a drug dealer accepts crytocurrency, how do they turn that money into real…


L.A. Times – Business

TMZ

Kim Kardashian Visits Women’s Prison to Discuss Release Program

July 7, 2018 |

Kim Kardashian West met one-on-one with several prisoners to discuss what it’s like being locked up … and their concerns about going back into the real world. Sources close to the situation tell TMZ … Kim arrived at the California…

TMZ.com

Notorious French Inmate Makes Brazen Helicopter Prison Break

July 1, 2018 |

A notorious French criminal serving 25 years for murder made an audacious escape from prison Sunday after several heavily armed men landed a helicopter in a courtyard, freed him from a visiting room and carried him away. Per AP , it was the second daring escape by Redoine Faid, who once…
Newser

Spanish King’s Brother-in-Law Begins Prison Sentence

June 18, 2018 |

Spanish prison authorities say that the brother-in-law of Spain’s King Felipe VI has begun serving a nearly six-year sentence for fraud and tax evasion . An official with the Interior Ministry’s prison management division says Inaki Urdangarin arrived Monday morning at a prison near Avila, about 100 kilometers north of Madrid,…
Newser

TMZ

Suge Knight Hoping to Get Prison Pass to Attend Mom’s Funeral

June 17, 2018 |

Suge Knight’s looking for a “get out of jail” card and hopes the court will be sympathetic when they hear him out … he wants to attend his mother’s funeral. Sources close to the Knight family tell TMZ … Suge’s mother, Maxine Chatman, died Sunday…

TMZ.com