The US Department of Justice has charged California resident John Khoo with money laundering using cryptocurrencies. He used digital assets to launder $5.35 million.
According to US law enforcement, John Khuu received funds from the distribution of drugs on the dark web and then transferred them through cryptocurrencies into US dollars. The Ministry of Justice reported hundreds of transactions with cryptocurrencies and dozens of accounts in various banks.
In addition to being charged with money laundering using cryptocurrencies, Khoo is also facing charges of illegal importation and trafficking of state-controlled substances. The offender was arrested in August of this year. He faces 20 years in prison for each charge.
Earlier, the financial regulator of California began the persecution of 11 cryptocurrency companies, whose activities bore signs of financial pyramids.
Source: Bits
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