US Sentences Indian Man For Laundering Cryptocurrency Worth $20 Million

The US Department of Justice (DOJ) sentenced an Indian nationalist to 121 months successful situation for his engagement successful a cryptocurrency wealth laundering scheme. Anurag Pramod Murarka laundered $20 cardinal worthy of cryptocurrencies done the darknet and the infamous planetary hawala network.

Murarka ran his strategy utilizing aliases connected the darknet named “elonmuskwhm” and “la2nyc” and operated arsenic a cryptocurrency vendor. He facilitated the laundering of implicit $20 cardinal worthy of cryptocurrency proceeds linked to transgression activities. He guided the cause mafia and hackers to deposit their funds obtained by amerciable activities. The 30-year-old past doled retired the funds to clients crossed the US.

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$20 Million Cryptocurrency Laundering: Here’s How It Operated

Source: CoinDesk

After agreeing connected an speech complaint with the clients, helium instructed them to nonstop cryptocurrency to a circumstantial wallet address. The funds would past beryllium converted into currency and disbursed to them done assorted methods. The methods see placing currency betwixt a motortruck afloat of books and besides successful sealed envelopes. The different signifier of method Murarka utilized was the planetary hawala network.

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“Once the speech complaint had been set, Murarka, located successful India, directed his customers to nonstop cryptocurrency to definite cryptocurrency addresses. Murarka past worked done a complex, pre-arranged hawala cognition emanating retired of India to put for currency to beryllium delivered to his employees successful the United States,” said the US Justice Department during his sentencing to 121 months successful prison.

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“Murarka’s web of employees passim the United States and overseas would cod currency from Murarka’s hawala connections and past bundle the currency successful a assortment of ways, including betwixt the pages of books and sealed successful aggregate envelopes, earlier mailing the currency to the customer. The suspect provided his assistance to countless different criminals arsenic they tried to conceal their stolen wealth and amerciable cause proceeds,” said U.S. Attorney Carlton S. Shier, IV.