American Crypto Trader Sentenced to One-Year Jail for BTC Money Laundering
July 13, 2018
The Court of Los Angeles has sentenced 50-year-old LocalBitcoins trader Theresa Tetley to one-year imprisonment and $20,000-fine as she was accused of crypto trading without corresponding license and laundering 80 BTC on drug selling. In addition, Tetley will be held on trail by the special services during the next three years after service of term. The court has also ordered to seize 40 BTC.
Tetley was detained after special service agent contacted her to launder $70,000 with bitcoins allegedly gained from drug selling.
Tetley said she had never had plans for purposeful crimes and she joined the crypto market out of pure interest only.
As her attorney Puneet Kakkar said, Tetley traded at LocalBitcoins from 2014 to 2017. Total transaction volume is not known exactly but is supposed to vary from $6 million to $9.5 million.