BitMEX exchange co-founder Benjamin Delo has actually been sentenced to 30 months’ probation for flouting anti-money laundering guidelines.
The Other Day, after the continuous legal legend that began in October 2020, a New york city federal court sentenced Delo to probation for breaking the anti-money laundering Banking Secrecy Act, according to The Wall Street Journal.
In February, Delo and previous BitMEX CEO Arthur Hayes pleaded guilty to “wilfully stopping working to develop, execute and keep an Anti-Money Laundering (AML) program”.
In Might, the Product Futures Trading Commission then released Delo and Hayes (together with co-founder Samuel Reed) a fine of $10m, of which Delo has actually just partially repaid.
The trio were charged with having actually stopped working to perform know-your-customer (KYC) treatments for the business’s United States consumer base.
BitMEX was working as a de facto cash laundering platform that serviced around $209m in illegal deals. By January 2021, it was reported that BitMEX had actually included KYC treatments.
Delo admitted he wanted he had actually acted in a different way, informing United States District Judge John Koeltl, who enforced the sentence: “It was a horrible choice”.
Delo will go back to his house and other half in Hong Kong where he will serve his sentence.
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