bitcoin

US Dept of Justice receive $19.2M proceed from seized Bitcoin

The US Department of Justice in the Midwestern region of Ohio has raked in $19.2 million from the sales of Bitcoin relinquished to the government by fraudsters.

Prosecutors accused Mark Simon, Sarah Alberts, Aaron Kuns, and Benjamin Stalets of producing and peddling false identification documents back in March 2018.

In exchange for their fraudulent services, Simon and his other four accomplices received bitcoins from clients. 

The court eventually found them culpable and officials pushed to seize 500 BTC worth around $5.1 million at the time.

Mark Simon pleaded guilty and was sentenced to 24 months imprisonment after he agreed to forfeit the Bitcoins.

The proceeds from the sale of the forfeited cryptocurrency were over  $19 million; signifying the tremendous rise in the value of Bticoin between when the token was seized and when it was sold.

NEXT: Bank of France Gov. wants EU to “quickly” regulate Cryptocurrency

About Godwin

Godwin is a multi-faceted writer. He covers the latest and most significant news in the crypto industry for Newsbsc. Aside from his work here, he writes exceptional SEO optimized web contents for other websites in different sectors.

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