Theresa Tetley, a Bitcoin trader from Los Angeles is facing more than two years in jail for operating what prosecutors refer to as an illegal money transmitting business.
According to NBC Los Angeles, Tetley – also known as “Bitcoin Maven” – who is fifty years old made at least $300,000 a year from trading bitcoin on Localbitcoins.com from 2014 to 2017.
Tetley has previously pled guilty to running an unregistered money transmission business and exchanging around 80 BTC for $70,000 in one transaction that prosecutors allegedly included the profits of drug trafficking.
If the government gets its way in court on Monday, even if her defence team is pushing for a lesser sentence of one year, she will still face a 30-month federal jail sentence for the crimes.
Bitcoin Maven’s said activities “fueled a black-market financial system in the Central District of California that purposely and deliberately existed outside of the regulated bank industry,” as the Prosecutors Office put it in the court documents.
According to NBC LA, Tetley’s is the first case of this kind in Southern California, while bitcoin traders have been a conflict to authorities in other parts of U.S. in the past year.
No comments:
Post a Comment