Article

2023-01-19 -Lurid Crime Tales-

Authorities seize crypto website Bitzlato, arrest founder for allegedly operating criminal haven

[KOIN] An international group of law enforcement agencies seized a Hong Kong-registered cryptocurrency website and arrested its founder for allegedly operating a haven for criminals to launder funds.

Justice Department and Treasury Department officials on Wednesday alleged cryptocurrency exchange Bitzlato processed more than $700 million in illicit funds by failing to implement an effective anti-money laundering program and that it was aware some accounts were engaging in criminal activity.

Deputy Attorney General Lisa Monaco said U.S. and French authorities dismantled Bitzlato’s digital infrastructure and FBI
FBI

...Formerly one of the world's premier criminal investigation organizations, something for a nation to be proud of. Now it's a political arm of the Deep State oligarchy that is willing to trump up charges, suppress evidence, or take out insurance policies come election time...
agents arrested Russian national Anatoly Legkodymov, the founder and majority owner of the website, on Tuesday evening in Miami.

"Today, the Department of Justice has dealt a significant blow to the crypto crime ecosystem," Monaco said.

Deputy Treasury Secretary Wally Adeyemo said the department’s Financial Crimes Enforcement Network designated Bitzlato as a "primary money laundering concern" after authorities identified nearly 50 percent of Bitzlato’s known transactions between 2019 and 2021 as involving illicit Russian finances or other "risky sources."

"Bitzlato was particularly active in facilitating illicit activity, but it is ultimately part of a larger, larger ecosystem of cyber criminals that are allowed to operate with impunity within Russia," said Adeyemo.

Posted by Fred 2023-01-19 00:00|| || Front Page|| [11131 views ] Top

#1 Crypto giant Genesis is 'days away' from bankruptcy after suffering steep losses in wake of FTX collapse: Firm owes creditors $3 BILLION - including $900M to Winklevoss twins

Posted by Skidmark 2023-01-19 05:12|| 2023-01-19 05:12|| Front Page Top

#2 I guess we are restocking our supply of Russian criminals that we can trade for woke lawbreakers.

Posted by Super Hose 2023-01-19 06:35|| 2023-01-19 06:35|| Front Page Top

#3 I don’t expect international money laundering for criminals to be the focus of the SBF trial … for some reason.

Posted by Super Hose 2023-01-19 06:38|| 2023-01-19 06:38|| Front Page Top

#4 Bitzlato crypto founder charged with $700m financial crimes

Posted by Skidmark 2023-01-19 07:04|| 2023-01-19 07:04|| Front Page Top

#5 Gotta remember to give 10% to the big guy

Posted by Slenter Panda4300 2023-01-19 08:24|| 2023-01-19 08:24|| Front Page Top

#6 The Wall Street Journal has a good editorial today (unfortunately paywalled) wondering just where the SEC was while all this was going on. Which is an excellent question. Unfortunately I don't expect an excellent answer.

Posted by Tom 2023-01-19 13:36|| 2023-01-19 13:36|| Front Page Top

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