Chicago cryptocurrency company Virtual Assets LLC and its founder have been indicted in an alleged $10 million money laundering conspiracy, federal prosecutors announced Tuesday.
The indictment, filed in the US District Court for the Northern District of Illinois, alleges that Firas Isa’s company, which operated a cash-to-cryptocurrency exchange business known as Crypto Dispensers, knowingly received at least $10 million in proceeds from wire fraud and narcotics offenses. The proceeds were then converted into cryptocurrency and transferred to virtual wallets to disguise the true source and ownership of the proceeds, prosecutors claim.
The charges carry a maximum sentence of 20 years ...
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