This 60-year-old man is accused of laundering $19 million of bitcoin he earned on the dark web. (via CNBCMakeIt)
"As alleged, Hugh Haney used Silk Road as a means to sell drugs to people all over the world. Then he allegedly laundered his profits — more than $19 million — through cryptocurrency," said Geoffrey S. Berman, the U.S. Attorney for the Southern District of New York. "[The] arrest should be a warning to dealers peddling their drugs on the dark web that they cannot remain anonymous forever, especially when attempting to legitimize their illicit proceeds.
Haney told the exchange company that he had earned the bitcoin through his own "mining" of the cryptocurrency, according to the government. Federal agents subsequently seized that cash from Haney's bank account. He is charged with one count each of concealment money laundering and engaging in a financial transaction using illegally obtained funds. Convictions of the two charges carry maximum prison sentences of 20 years and 10 years, respectively,Haney has not entered a plea and a preliminary court hearing is scheduled for July 30 in Columbus. Haney's attorney, George Chaney a public defender in Columbus, did not immediately respond to a request for comment from CNBC Make It.
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