New Jersey Pastor Accepted Bribes of $150000 in Bitcoin Scheme

A New Jersey pastor was found guilty of pocketing $150,000 from shady bitcoin traders in exchange for giving them control of a credit union he headed so they could run it as a front for their bitcoin exchange.

The pastor, Trevón Gross, was found guilty along with programmer Yuri Lebedev by a Manhattan federal court jury on Friday. Anthony Murgio, the founder of the exchange, Coin.mx, pleaded guilty in January.

Related: Bitcoin just became more valuable than gold. Why does the price keep rising?

In 2013, Murgio founded Coin.mx and Lebedev helped run it. The exchange operated through a phony front company called Collectables Club in order to fool banks into thinking illegal bitcoin transactions were legitimate sales of stamps and sports memorabilia. By posing as a site for philatelists and sports nerds and by miscoding credit and debit card transactions, the pair tricked banks into processing more than $10 million in bitcoin-related deals, according to prosecutors.

The pair also sold bitcoins to victims of “ransomware”—cyberattacks that involve hackers electronically blocking access to victims’ computers until bitcoin ransoms are paid. “In doing so, Murgio, and his co-conspirators knowingly enabled the criminals responsible for those attacks to receive the proceeds of their crimes,”

Read more … source: TheBitcoinNews

News from Darknet

Comments

comments

Filed in: Mainstream Bitcoin Tags: ,

You might like:

Bancor Bounce Back? ICO Is Winning Adoption Bancor Bounce Back? ICO Is Winning Adoption
Lithuania's Central Bank Probes 100 Million Euro ICO Lithuania's Central Bank Probes 100 Million Euro ICO
PC Giant Lenovo Seeks Blockchain Validation Patent PC Giant Lenovo Seeks Blockchain Validation Patent
Coinbase. Ripple. Uphold? Investor Greg Kidd Defends Bold Bet Coinbase. Ripple. Uphold? Investor Greg Kidd Defends Bold Bet
Banks Buy Stakes in Blockchain Startup SETL Banks Buy Stakes in Blockchain Startup SETL
Long Blockchain Is At Risk for Exchange Removal Again Long Blockchain Is At Risk for Exchange Removal Again
Bottom Confirmed? Bitcoin at 20-Day High Near $11K Bottom Confirmed? Bitcoin at 20-Day High Near $11K
Record Retest? ETC Looks Poised on Double-Digit Climb Record Retest? ETC Looks Poised on Double-Digit Climb
© 2018 Virtual Mining Bitcoin News. All rights reserved. XHTML / CSS Valid.