A third defendant pleaded guilty in a string of court cases against a Toledo, Ohio-based fake ID ring that is said to have netted over $4.7 million in bitcoin, according to a report by The Blade.
Sarah Alberts, of Perrysburg, Ohio, admitted to charges of money laundering, conspiracy and knowingly possessing with intent to use unlawfully or transfer unlawfully five or more identification documents.
Alberts participated in a large-scale operation to distribute driver's licenses and other identification cards across the nation that operated in online forums such as Reddit and transacted in bitcoin.
Police initially seized $7,000 in cash, a thumb drive with $4.7 million in bitcoin, six pre-paid crypto debit cards registered under other identities, as well as gold and silver bars.
Co-defendants Mark Alex Simon and Aaron Kuns previously pleaded guilty to charges of conspiracy to launder money.
Simon also pleaded guilty to knowingly transferring false identification documents, and Kuns to the production of false identification documents.
The government seeks the forfeiture of $2.8 million and $2.8 million from Simon and Kuns, respectively.
Additional charges of production of identification documents and transferring an identification document were dismissed as part of Alberts plea deal.
According to court documents, Simon - the ringleader - would receive customer orders to his Reddit avatar "TedDanzigSR" and forward client's photos, personal information and mailing labels to Kuns to produce the fake IDs.
According to The Blade, Kuns was paid by Simon in bitcoin, and Alberts paid him in gold coins or bars.
Third Defendant Pleads Guilty in Fake ID-for-Bitcoin Case
Udgivet den Jul 3, 2019
by Coindesk | Udgivet den Coinage
Coinage
Nævnt i denne artikel
Seneste nyheder
Se alt
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.