Sentenced Detroit Man For Trading Bitcoin Without License.
A 41-year-old man named Sal Mansy was sentenced by a federal court in the city of Detroit to spend a year and a day in prison, plus 3 years of supervised freedom for the exchange of Bitcoin without a monetary service license, it should be noted that he was also sentenced along with his company TV TOYZ LLC. This information was provided by the Federal Prosecutor, Halsey Frank. The court ordered the defendants to lose about $ 118,000 in Bitcoins and cash. The case was developed in Maine since Mansy had announced in that place. This man pleaded guilty to all charges in May of this year.
Mansy bought and sold around $ 2.4 million in bitcoin dollars between August 2013 and June 2015, according to court records. Mansy channeled his transactions through the bank account of TV TOYZ. Mansy was the owner and operator of TV TOYZ, a limited liability corporation. Mansy did not register his money service business with the Financial Crimes Network, in violation of federal law. Mansy violated Title 18 of the US Code., Section 1960, which outlaws the transfer of money as a business for third parties without obtaining adequate licenses. Mansy knew he needed to register with FinCEN, according to court records.
The agents confiscated a total of $ 118,134.57 in bitcoin and cash while searching for Mansy’s home in Detroit in June 2015 after a one-year investigation.
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