A California man, Charles James Randol, has admitted to operating a cryptocurrency exchange without implementing anti-money laundering measures, allowing scammers and drug traffickers to launder millions of dollars through the service. He now faces up to five years in federal prison and a fine of up to $250,000.
A Turkish cryptocurrency boss has been sentenced to 11,196 years in prison for fraud, money laundering, and organized crime related to the collapse of Thodex, one of Turkey's largest cryptocurrency exchanges, costing investors $2 billion.
Two former JPMorgan Chase precious metals traders have been sentenced to prison for engaging in market manipulation schemes involving spoofing, fraud, and market manipulation, resulting in $10 million in losses to participants, according to the US Department of Justice.
The founder of a failed Turkish cryptocurrency exchange, Faruk Fatih Ă–zer, has been sentenced to an 11,196-year prison term for charges including fraud, money laundering, and operating a criminal organization, after users lost $2 billion worth of cryptocurrency when the exchange collapsed in 2021.
