Crypto firm operator is charged with money laundering and tax crimes.
11/11/2024
According to court documents,
- AurumXchange was used to conduct over 100,000 transactions, transferring over $30 million in funds.
- A portion of the funds flowing through AurumXchange allegedly came from accounts held on Silk Road, an anonymous dark web marketplace that hosted illicit activities, including the sale of illegal drugs.
- Silk Road was shut down by federal law enforcement in 2013, and Pilipis stopped operating AurumXchange in the same year.
- Over the next several years, Pilipis split up. They transferred the Bitcoin and other assets derived from his operation of AurumXchange as an unlicensed money-transmitting business to launder and conceal the proceeds of the offences.
- In approximately 2018, he began converting the proceeds into U.S. dollars, which he invested and spent, including his real property purchases in Arcadia and Noblesville, Indiana.
- He also allegedly realised hundreds of thousands of dollars in income in 2019 and 2020 without filing tax returns as required by law.
He could face up to 10 years in prison and significant fines if convicted.
It’s a significant case highlighting the ongoing efforts to combat the misuse of cryptocurrencies for illegal activities.
Source:
- Operator of Unlicensed Virtual Currency Exchange AurumXchange Charged .... https://www.justice.gov/usao-sdin/pr/operator-unlicensed-virtual-currency-exchange-aurumxchange-charged-federal-money.
- DOJ charges crypto exchange operator with laundering Silk Road money. https://cointelegraph.com/news/doj-accuses-crypto-exchange-operator-of-laundering-silk-road-money.
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