A man in the U.S. was sentenced to 6 years in prison and fined $1.5 million for involvement in Bitcoin money laundering

ChainCatcher news, according to Cointelegraph, a man in the United States has been sentenced to six years in prison for operating a so-called "no questions asked" cash-to-Bitcoin service and ordered to forfeit millions of dollars.

On May 22, U.S. District Judge Richard Stearns announced that Trung Nguyen from Danvers, Massachusetts, was sentenced to six years in prison, followed by three years of supervised release, and ordered to forfeit $1.5 million in assets.

Prosecutors stated that Nguyen operated an unlicensed money transfer business called National Vending from September 2017 to October 2020, using various methods learned from an online course to evade regulation. Nguyen learned how to conceal his true business from banks, cryptocurrency exchanges, and state regulators, such as disguising as a vending machine company that accepted cash deposits, fabricating a fictitious list of suppliers, and avoiding the use of the term "Bitcoin" whenever possible.