Washington: A United States court indicted two persons, including an Indian-American, in connection with a cryptocurrency money laundering scheme, said the Department of Justice.
Virginia men — Lois Boyd, and Manik Mehtani — face up to 20 years in federal prison.
As per the indictment, Boyd and Mehtani have allegedly conspired with others to get victim money derived from several fraud schemes and launder the proceeds via cryptocurrency, reported news agency PTI.
They were alleged to have routinely structured deposits to avoid transaction reporting requirements and to conceal the nature and source of the criminal proceeds, according to the Department of Justice.
Both allegedly exchanged the criminal proceeds for cryptocurrency and directed the cryptocurrency to wallets under the control of their foreign co-conspirators, the department said.
ALSO READ: The Power Of The Dog: A Visual Essay On The New American West
Bhubaneswar: The Nandankanan Zoological Park (NZP) near Bhubaneswar has received 11 species of animals and…
Mumbai: Abhishek Bachchan’s performance in Shoojit Sircar’s ‘I Want To Talk’ is being lauded by…
New Delhi: The Supreme Court on Monday dismissed pleas challenging the 42nd Amendment to the…
Berhampur: Fishermen helped a giant shark, which had got stuck on the beach in Sonapur…
Jajpur: Trouble seems to have mounted further for Bhaba Prasad Das, cousin of BJD organisational…
Perth: The writing was on the wall after India had reduced Australia to 12/3 in…
Bhubaneswar: Agitated locals staged a road blockade after a mini-truck of Omfed hit an auto-rickshaw,…
Bhubaneswar: Alarmed at growing ganja peddling in the state, the Odisha government has launched a…