Owner Of Unlicensed BTC Trading Platform ‘Destination Bitcoin’ Found Guilty By US DoJ
- As per a representative for the US DoJ, William Green — a native of NJ, USA — was first charged with a criminal complaint earlier this year (on the 28th of February to be exact).
- It is being alleged that Green helped his clients in exchanging more than $2 million worth of fiat assets into crypto using an unregistered trading platform.
As per an all new announcement issued by the United States Department of Justice yesterday afternoon, William Green — a 46-year-old resident of New Jersey resident — has been found guilty of operating a crypto exchange without a license by a federal grand jury.
The indictment filing clearly notes that Green was running a fiat-to-Bitcoin (BTC) platform using a website called ’Destination Bitcoin’. To further elaborate on the matter, it is being said that Green was taking money from his customers to convert their hard cash into BTC. Not only that, investigators associated with this case found that Green had not registered his company with the Secretary of the United States Treasury in any capacity.
For a person to run a business that is involved with the transmission of money, he/she needs to register their service platform with the Secretary of the Treasury.
It is estimated that Green was able to convert more than $2 million worth of fiat into BTC.
For his crimes, it is expected that Green will have to serve a prison sentence of up to five years as well as a fine of around $250k.