Bitcoin Launderer Alexandra Vinnik Bags 5-Year Jail Term in France

41-year old Russian man, Alexander Vinnik, who is highly recognized for fraudulent crypto activities, has been sentenced to five years in prison for Bitcoin laundering.

Vinnik allegedly collaborated with some organized criminals to provide false information about the origin of some money laundering.  

This criminal act was committed in Paris, France, and the United States between January 1, 2016, to July 25, 2017, as announced by the judge from a court in Paris.

Alongside the imprisonment declared by the judge, Vinnik was ordered to pay a fine of 100,000 euros. 

The report reveals that Vinnik denied the allegations made against him. Meanwhile, it was discovered that Vinnik had been found guilty of several cybercrimes before the current case. This has left his lawyers in the thought of appealing.

In a recent report from Coinfomania, Alexander Vinnik allegedly used a ransom to extort as much as $157 million worth of Bitcoin from victims. The French prosecutors requested that he should face a 10-year jail term for his crimes. 

Several victims of Vinnik’s fraudulent schemes paid ransom demands in Bitcoin through BTC-e, one of the world’s largest digital currency exchanges at the time before it was shut down by the U.S. authorities.

Vinnik’s point of defense on the matter was that he was only a technical operator carrying out the instructions of BTC-e directors.

The court found Vinnik guilty of money laundering, hence sentenced him to 5 years in prison and ordered a fine of 100,000 euros from him.

However, the court did not find enough evidence to convict Vinnik of extortion, thus could not approve the 10-year jail term and 750,000 euros in fines as requested by the prosecutors.