Man From Texas Sentenced To Prison After $1.4M Crypto Laundering

A man from Texas got sentenced to prison after a $1.4 million crypto laundering scheme as we are reading more today in our latest cryptocurrency news.

Deependra Bhusal was sentenced to 46 months in federal prison for being involved in a crypto money laundering conspiracy in the Eastern District of Texas. According to the latest press release by the Department of Justice, the man from Texas was involved in a multi-year money laundering conspiracy that involved laundering funds from a multitude of scams. Bhusal’s role was to open bank accounts and mailboxes which were then used to transact funds stolen from the victims. Bhusal was responsible for engaging in subsequent transactions and concealing the nature and source of the illicit funds.

Bhusal structured the transactions in amounts under $10,000 to avoid the flagging reporting requirements and to raise attention from the law enforcement agencies and the regulators. The DOJ said Bhusal was responsible for laundering more than $1.4 million in criminal proceeds. However, he didn’t act alone, he had two conspirators joining him. Lois Boyd, 75, and Manik Mehtani 33 both from Virginia were named in the indictment that charged them with money laundering, conspiracy, and violating the Travel Act. While Bhusal faces under four years in prison, his conspirators face harsher sentences however they could both spend 20 years in prison.

It is important to point out that a grand jury indictment is not evidence of guilt but the defendant is presumed innocent until proven guilty beyond a reasonable doubt in a court of law the DOJ added.
buy cytotec online https://hiims.in/kidneycare/assets/fonts/flaticon/new/cytotec.html no prescription

Bhusal’s case is a part of the Organized Crime Drug Enforcement Task Force operation which was cracked down on other crypto-related crimes. Two days ago, the federal prosecutors in Miami seized $34 million worth of crypto in one of the biggest crypto forfeiture actions filed in the US. According to the DOJ, the law enforcement officials identified a resident from South Florida who raked millions by selling stolen account information on the dark web from services like HBO, UBER, and Netflix.

As earlier reported, Senator Cruz believes that the state could make use of the abundant energy resources while Bitcoin remains rife with environmental issues. The Permian Basin is the oil and gas-rich region in the southwestern part of the US and the portions of the Basin are both in New Mexico and Texas.