Summary
TLDR: The founder of Bitcoin Fog, a crypto mixer, was convicted for running a money laundering service, moving 1.3 million bitcoin valued at $400 million. He was found guilty of conspiracy, money laundering, and operating an unlicensed business. His sentencing hearing is set for July 15. Sterlingov’s attorney plans to appeal the verdict. The US government claimed Sterlingov made millions in commissions from Bitcoin Fog transactions. This is the latest win for the US government in crypto-related cases.
Key Points
1. The founder of Bitcoin Fog, a crypto mixer, was convicted in a Washington DC court on Tuesday.
2. Roman Sterlingov, the operator of Bitcoin Fog, was found guilty of conspiracy, sting money laundering, and operating an unlicensed money-transmitting business.
3. Sterlingov’s attorney plans to appeal the verdict, while the IRS Criminal Investigation Chief Jim Lee stated that evidence showed Sterlingov laundered illicit funds through Bitcoin Fog to conceal their origin.