SUBMIT PRESS RELEASE
  • Facebook
  • Twitter
  • LinkedIn
  • RSS
Coinfomania
  • News
    • Crypto
    • DeFi
    • NFTs
    • Regulation
    • Press Release
  • Beginner Guides
    • Bitcoin
    • Ethereum
    • Solana
    • NFTs
  • Price Analysis
  • Interviews
  • Crypto Swaps 🔥
  • Crypto Merch
  • About Us
  • News
    • Crypto
    • DeFi
    • NFTs
    • Regulation
    • Press Release
  • Beginner Guides
    • Bitcoin
    • Ethereum
    • Solana
    • NFTs
  • Price Analysis
  • Interviews
  • Crypto Swaps 🔥
  • Crypto Merch
  • About Us
New Jersey Resident Indicted for Operating Unlicensed Bitcoin Exchange
William Frederick July 25, 2019 12:45 PM

A New Jersey resident was indicted on Wednesday by a federal grand jury, for running an unlicensed money transmitting business, according to a press release from the New Jersey Attorney’s office.

Through the alleged unlicensed Bitcoin exchange, William Green charged its customers fees, in order to convert more than $2 million into the digital currency, Bitcoin.

According to the documents filed against Green, the 46-year-old man was caught operating a Bitcoin exchange business through a website dubbed “Destination Bitcoin,” through which he received money from his customers.

Such money from the members of the public is deposited in bank accounts maintained by Green. Afterward, he converts them into Bitcoin in accordance with the customers’ instructions. Previously, he was charged with the same offense by criminal complaint on February 28.

Per the report, Green this time, was fouled for not registering with the Secretary of the United States Treasury as a money transmitting business, either in his own name or in the name of the business.

As the Federal law demands, any person who owns or controls a money transmitting business shall register the business with the Secretary of the Treasury, whether or not the business is licensed as a money transmitting business in any State.

Consequently, he was indicted with one count of operating an unlicensed money transmitting business and is expected to appear before a United States District Judge on a date yet to be announced.  

Green is likely to be charged a fine of about $250,000 and a maximum penalty of 5 years imprisonment. However, the charges and allegations in the indictment are merely accusations, hence he is still considered innocent unless and until proven guilty.

Recently, a 33-year-old Australian government employee was charged by the country’s federal police (AFP), for modifying the agency’s computer network to mine cryptocurrency for personal gain; about AU$9,000 (US $6,148) from the mining operations.

Your crypto deserves the best security. Get a Ledger hardware wallet for just $79!

Bitcoin (BTC) United States

About the Author

William Frederick View all posts by William Frederick

Crypto Fanatic, Gamer, Tech Lover, Marketer.

« Previous Post
Next Post »
Press Releases
Watch Your Investment Grow by 100x With TMS Network (TMSN); Don’t Settle for Mediocre Gains With Binance (BNB) and KuCoin (KCS)
Press Release

Watch Your Investment Grow by 100x With TMS Network (TMSN); Don’t Settle for Mediocre Gains With Binance (BNB) and KuCoin (KCS)

Polkadot (DOT), Aptos (APT) Prices Show Worrying Performance, Collateral Network (COLT) Leaps Ahead
Press Release

Polkadot (DOT), Aptos (APT) Prices Show Worrying Performance, Collateral Network (COLT) Leaps Ahead

Orbeon Protocol (ORBN) Grows 2100% During Presale, Leaves Enjin Coin (ENJ) And Avalanche (AVAX) Behind
Press Release

Orbeon Protocol (ORBN) Grows 2100% During Presale, Leaves Enjin Coin (ENJ) And Avalanche (AVAX) Behind

Introducing Orbeon Protocol (ORBN) – A Project That Could Soon Rival Polkadot (DOT) and Helium (HNT)
Press Release

Introducing Orbeon Protocol (ORBN) – A Project That Could Soon Rival Polkadot (DOT) and Helium (HNT)

Beginner Guides
Who Are Crypto Whales? The Only Article You Need to Read
Beginner Guides

Who Are Crypto Whales? The Only Article You Need to Read

What Is Solend and How Does It Work?
Beginner Guides

What Is Solend and How Does It Work?

What is Polkadot (DOT) and How to Buy It?
Beginner Guides

What is Polkadot (DOT) and How to Buy It?

What Is an Exchange Token in Crypto? Explained for Beginners
Beginner Guides

What Is an Exchange Token in Crypto? Explained for Beginners

Price Analysis
Ripple Analysis: 28% in 24 Hours. Fundamentals Win Again

Ripple Analysis: 28% in 24 Hours. Fundamentals Win Again

Guides

About Us

Bitcoin

Ethereum

Solana

Polygon

Ronin

NFTs

Web3

Metaverse

Company

About Us

Contact

Corrections

Privacy

Terms

Sitemap

Community
  • Facebook
  • Twitter
  • LinkedIn
  • RSS
Disclaimer

Information found on this website is those of the writers quoted. It does not represent the opinions of Coinfomania on whether to buy, sell, or hold any investments. Readers must conduct their own research before making any investment decisions. Use the provided information at your own risk.

Coinfomania Copyright © 2023.
  • bitcoinBitcoin (BTC) $ 27,640.00 0.39%
  • ethereumEthereum (ETH) $ 1,750.96 0.37%
  • bnbBNB (BNB) $ 324.39 0.26%
  • xrpXRP (XRP) $ 0.449902 5.22%
  • solanaSolana (SOL) $ 20.50 1.19%
  • terra-luna-2Terra (LUNA) $ 1.32 2.09%
Scroll to top
Skip to content