Qais Muhammad, a resident of Orange County, California, will spend the next 24 months in federal prison for operating an illegal Bitcoin ATM service.

According to US officials, the man processed up to $25 million in total on behalf of the suspects.

Money laundering with Bitcoin:

In 2020, Qais Mohamed, also known as Superman29, pleaded guilty to charges of running an unauthorized money transfer business, money laundering, and failure to maintain an effective anti-money laundering program.

US officials recently reported that Judge Josephine Staton of Central California has sentenced the 39-year-old to spend the next two years in prison.

Read:The death of a platform owner causes the loss of 190 million dollars in cryptocurrency

According For the US Department of Justice, Qais was responsible for the illegal cryptocurrency money transfer service business from December 2014 to November 2019.

During this period, it offered fiat-to-fiat services and vice versa, charging fees of up to 25 percent, well above the usual market rate.

The investigation added that “Qais” advertised “Herocoin” services online, stressing that he could exchange up to $25,000 of the base cryptocurrency.

After that, he continued to provide his services under the alias “Superman29,” and he would meet his clients – some of whom were criminals – privately to provide the service, but he never questioned the source of their money.

US authorities have admitted that they put in action secret agents, who contacted the outlaw because of his services.

They told him that their money came from prostitution, human trafficking, and dark web activities, but Qais continued to deal with them and exchange cryptocurrency for them.

As we indicated, “Qais” did not deny the crime attributed to him and agreed to hand over 17 Bitcoin ATMs, 18.5 Bitcoin, 222.5 Ethereum and $22,820 in cash to the authorities.

Read:Bitcoin Arab announces a discussion session and a practical application to learn technical analysis

Fraud and money laundering using Bitcoin continues:

The “Qais Muhammad” mentioned above in the article is not the only person who will see a prison cell from the inside.

Earlier, we reported on Bitcoin Arab about one of the most famous scandals this year related to the Turkish cryptocurrency exchange Thodex.

Read:Cryptocurrency exchange Bittrex announces the suspension of trading XRP

According to the authorities, the CEO of this platform allegedly deceived users and fled the country with a large part of their money.

So that the security authorities in Turkey were able to arrest six members on charges of participating in this fraudulent operation.

Interestingly, two of the suspects are the brother and sister of the platform’s founder and CEO.

These are the first to be imprisoned after many others were released in the past weeks for lack of evidence.

However, the Turkish government confirmed that it is making great efforts to catch the head of the criminal platform while they are searching for him in four different countries.

Read also:

World skater “Tony Hawk” reveals: I bought bitcoin since 2012 and used it since!

Learn about the details of El Salvador’s proposal for Bitcoin as legal tender