Ohio Bitcoin Launderer Pleads Guilty to Running $300M Operation

Matthew De Saro
·1 min read
1

BeInCrypto –

An Ohio resident has pled guilty to running a $300 million Bitcoin laundering operation that also helped fund drug traffickers.

Larry Dean Harmon, the founder of DropBit and CEO of CoinNinja, has pled guilty to operating a $300 million bitcoin laundering ring. According to a statement from the Justice Department, Harmon’s operation also had ties to drug runners on the Dark Web.

Harmon agreed to a plea deal as a condition of his surrender of more than 4,400 bitcoins with a current value of more than $200 million. Harmon is accused of, among other things, moving millions of dollars in coins to help drug traffickers on the dark web hid the source of their cryptocurrency assets. Illegal arms dealers and other illicit activities and services were also involved. During his crime spree, Harmon was hiding out in Belie during his crime spree, also faces an assessment of more than $50 million in civil monetary penalties from the Financial Crimes Enforcement Network (FinCEN).

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