The post Helix Money Laundering Case Operator Sentenced To 3 Years appeared on BitcoinEthereumNews.com.

Key Points: Larry Harmon was sentenced to 3 years for Helix Money Laundering, forfeiting $311M in cash and $400M in assets. Helix laundered 350,000 BTC; Gary Harmon was jailed for theft linked to Helix Money Laundering. Larry Harmon, the Helix crypto mixer founder, was sentenced to 3 years in prison for Helix Money Laundering, forfeiting $311M in cash and $400M in assets. Larry Harmon Sentenced for Helix Money Laundering Larry Harmon, the founder of the Helix cryptocurrency mixer, was sentenced to three years in prison after his role in Helix Money Laundering was brought to light. His website was used to launder over 350,000 BTC, despite his facing a maximum sentence of as long as 20 years. In exchange for a reduced sentence, Harmon had his prison time shaved by cooperating with the prosecution in the case against Bitcoin Fog operator Roman Sterlingov. He was also ordered to forfeit $311 million in cash, as well as $400 million in assets that include cryptocurrency and seized real estate. Prosecutors underlined the crime’s enormity, described as “staggering,” because Helix had processed more than $300 million in Bitcoin for illicit darknet transactions. Back in 2020, the Treasury Department fined Harmon $60 million over the same illegal operations. The court nonetheless factored in that Harmon was contrite and that his operation, Helix, had been closed two years before his arrest in 2020, according to Cointelegraph. Read more: Helix CEO’s Brother Admitted To Stealing Over 712 BTC From IRS Helix Founder’s Role in Bitcoin Money Laundering Revealed One such platform was Helix, run by Larry Harmon, through which the money laundering traffic of more than 350,000 BTC happened from 2014 through 2017. For easy facilitation of these criminals, Harmon created an API wherein it allowed direct integration with Helix right from the darknet markets. In…

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Filed under: News - @ November 16, 2024 5:14 am