News

California man sentenced for Bitcoin money laundering

By Marcos Icahuate, The Associated Press

Published November 19, 2021 10:22 AM

Over $13 million involved in scheme

SANTA ANA, Calif. (KYMA, KECY/AP) - A California man will be serving three years in federal prison for a scheme exchanging more than $13 million in Bitcoin and cash through an unlicensed business.

Hugo Mejia has been sentenced to three years after establishing a business connected to drug trafficking by money laundering Bitcoin for cash and vice versa from May 2018 to September 2020.

Prosecutors say Mejia charged commissions for transactions.

Mejia pleaded guilty in July and was sentenced on Thursday, November 18.

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Marcos Icahuate

Reach out to Marcos with your story ideas at marcos.icahuate@kecytv.com.

The Associated Press

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