US Resident Arrested for Drug Money Laundering Using Crypto

in #news4 years ago


CoinDesk posted a news article regarding Pedro Antonio Aquino-Eufracia, a US resident in Florida, who was charged and arrested for laundering money acquired through the selling of illegal drugs by using a combination of cashier checks and cryptocurrency deposits.

There was no specific amount listed for the crypto deposits in the complaint against Aquino-Eufracia, however among the currencies Bitcoin was confirmed to be used.

The investigation was worked on by both the DEA and Internal Revenue Service’s criminal division.

It seems the Trump Administration’s concerns regarding crypto currencies have already started showing results. Perhaps this case will lead to an even stronger crackdown on crypto technology.