Both perpetrators happen to be wife and husband, they are threatened with 2 years in prison for money laundering.
The couple’s illegal activities end after the Rotterdam District Court ordered them to be caught.
The money laundering of Bitcoin is becoming a prominent issue these days, and many are sent to jail for committing it.
One fraudulent couple met an unexpected end when Dutch police caught them with over 2500 Bitcoin worth $33 million. The Rotterdam Regional Court sentenced the couple to two years in prison for money laundering. According to reports, this couple has been in business for more than 2 years. The police discovered that they have since laundered up to 19 million dollars.
According to the press release of the OpenBaar Ministry, the authorities did not stop at the confiscation of the 33 million dollar bit coin. They also took all their computer equipment, cell phones, jewelry, a car and hard drives. Apart from these items, the police discovered that the couple also had their respective businesses, and the police confiscated €138,000 and €40,000. The court also ordered the two companies to pay fines of €45,000.
Money laundering through Bitcoin
The couple both lived in Hilversum, Holland. According to the reports we received, they buy and exchange Bitcoin without notifying the tax authorities. They also traded with customers via the Dark Web, and there they trade the crypto currency. From what we have learned, this couple never asks their customers to identify themselves.
Nor have they bothered to perform any form of KYC, even if the transactions were in the millions. Right now, one of the money launderers will spend two years in prison, while the other one will spend two and a half years in prison.
With the recent rise in crypto-money laundering, the financial regulators of many governments have tightened their game in monitoring these activities. Recently, the governments of Switzerland and the UK have made attempts to tighten the regulations for crypto operations.
In fact, some crypto stock exchanges are now working with the government to reduce the number of crypto money launderers. The Treasury is one of the exchanges that has supported the authorities in this effort.
In a compromised FBI report, the agency showed how it was able to track down these BTC/USD launderers in the illegal dark network. However, other reports indicate that traditional channels continue to facilitate money laundering. So it is not only through the dark network….