A Southern California man will plead guilty to running a business that took commissions of up to 25% for exchanging virtual currency for cash through an unlicensed network of Bitcoin ATM kiosks, according to court documents filed Wednesday.
Kais Mohammad is alleged to have exchanged between $15 million and $25 million in currency including with some people he knew were using proceeds from criminal activity, a Justice Department statement said. He agreed to plead guilty to one count of operating an unlicensed money transmitting business, one count of money laundering, and one count of failure to maintain an effective anti-money ...
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