American Faces 30 Years In Jail For Laundering $25 Million
A US citizen Qais Mohammed, known in narrow circles under the nickname Superman29, has pleaded guilty to money laundering in the amount of about $25 million.
He said that from the end of 2014 to the end of 2019, he ran the company Herocoin, engaged in the exchange of cryptocurrencies without a license.
How did it work?
He exchanged bitcoins for cash and charged a huge fee of up to 25%. He understood perfectly well that these funds were obtained illegally, still, continued to engage in this activity.
Failure to comply with FinCEN requirements
Recall, two years ago the state regulator FinCEN strongly recommended the suspect to officially register the company. But even after that, Muhammad did not give the regulator data on suspicious clients. Thus 36-year-old suspect faces a 30-year jail sentence.