A man pleaded guilty in federal court in Central Islip, N.Y., to operating an unlicensed money transmitting business, the Justice Department said Wednesday.
David Scotese agreed to forfeit cryptocurrency, cash, and precious metals worth more than $1.3 million as part of his plea agreement, according to the DOJ. US District Judge Joan M. Azrack oversaw the proceeding.
He worked and advertised himself online as an exchanger and transmitter of cryptocurrency without registering with the Treasury Department or Financial Crimes Enforcement Network or getting a state license, the DOJ said.
This story was produced by Bloomberg Law Automation.
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March 14, 2024 at 04:24AM
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Online Crypto Exchanger Admits to Money Transmitting Business - Bloomberg Law
"exchanger" - Google News
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