US man sentenced to 6 years in prison for illegal Bitcoin services and ordered to forfeit $1.5 million in illegal gains

PANews reported on May 23 that according to CoinDesk, Trung Nguyen (alias "DCS420"), a Massachusetts man, was sentenced to six years in prison by the Boston Federal Court for operating an unlicensed cash-to-bitcoin exchange business. Prosecutors accused him of laundering more than $1 million for criminals such as fraudsters and methamphetamine dealers between 2017 and 2020 through the fictitious vending machine company National Vending, LLC, including exchanging $250,000 in bitcoins for a drug dealer.

In addition to the prison sentence, the judge also ordered Nguyen to disgorge $1.5 million in illegal gains and to accept three years of supervised release. In November 2024, a federal jury found that he intentionally circumvented anti-money laundering regulations, failed to register with the U.S. Financial Crimes Enforcement Agency (FinCEN) as required, and evaded regulation by splitting up large transactions. Evidence shows that Nguyen had handled multiple transnational pig-killing scams and contacted clients through encrypted communication tools.

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Author: PA一线

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