Timothy Wadsworth, a 35-year-old New York resident, was sentenced to 51 months in federal prison and ordered to pay $811,000 in restitution after pleading guilty to conspiracy to commit wire fraud and money laundering. The U.S. Attorney's Office for the Western District of New York announced the sentencing on October 26.
Between March and May 2020, Wadsworth used unauthorized credit card numbers provided by co-conspirators to attempt 310 payments totaling approximately $1.67 million through Stripe. Of those attempts, 116 succeeded, yielding $730,000. He transferred the illicit funds into bank accounts under his control, moved them to Coinbase to purchase Bitcoin, and sent the cryptocurrency to his co-conspirators.
The broader scheme also involved fraudulent applications for pandemic-era PPP and EIDL loans, unemployment benefits, and romance scams, resulting in total losses of approximately $2.06 million.
New York Man Sentenced to 51 Months for Bitcoin Money Laundering Scheme
Haftungsausschluss: Die auf Phemex News bereitgestellten Inhalte dienen nur zu Informationszwecken.Wir garantieren nicht die Qualität, Genauigkeit oder Vollständigkeit der Informationen aus Drittquellen.Die Inhalte auf dieser Seite stellen keine Finanz- oder Anlageberatung dar.Wir empfehlen dringend, eigene Recherchen durchzuführen und einen qualifizierten Finanzberater zu konsultieren, bevor Sie Anlageentscheidungen treffen.
