Attorney Bridget M. Brennan not too long ago explained that the US Federal Reserve (Fed) has just offered 500 Bitcoins for $ 19.23 million. This is the variety of Bitcoins obtained in the 2018 counterfeiting ring bust.
According to the announcement, the dollars will be distributed to federal companies and nearby police departments concerned in the investigation.
In addition, they are also applied to compensate the victims of the crime. The remaining volume is deposited in the Treasury. Authorities did not comment on the Bitcoin transaction.
Previously, the incident concerned Mark Alex Simon – a 37-yr-previous guy residing in Toledo. Mark runs an identity fraud ring in Ohio, Michigan and Utah.
It is acknowledged that this is the greatest fake document ring ever in Northern Ohio. Bitcoin is applied to pay out bills.
Authorities raided Simon’s residence in Toledo with his accomplices and seized much more than 500 Bitcoins and associated proof. At the time, this Bitcoin was valued at $two.88 million.
Finally, the leader was sentenced to two many years in prison for conspiracy to launder dollars and forge paperwork in June 2019.
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