In February, a California man agreed to plead guilty to fraud, money laundering and operating an exchanger without the required license.
According to the resolution of the US Department of Justice, Hugo Sergio Meia was sentenced to three years in federal prison.
Between May 2018 and September 2020, the man exchanged cryptocurrencies for his clients. According to the prosecution, many of them were connected to the drug cartel, and Meia knew about it. In order to hide his true activities, he registered a number of companies - Worldwide Secure Communications LLC, World Secure Data and The HODL Group LLC.
If Meia had not made a deal with the investigation and admitted his guilt, he would have faced up to 25 years in prison.
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According to www.theblockcrypto.com
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