The U.S. has grass oned about 500 bitcoins seized back in 2018 for about $19.2 million. This was reportedly the largest net forfeiture in the Northern Locality of Ohio’s history.
- Federal authorities in the U.S. state of Ohio have sold bitcoins seized back in 2018 in a defrauder case.
- The seized bitcoins were sold for nearly $19.23 million, Acting U.S. Attorney Bridget M. Brennan promulgated Thursday. The coins seized during the investigation were initially valued at approximately $2.88 million. This was reportedly the heaviest net forfeiture in the Northern District of Ohio’s history. The authorities did not say how and where the coins were sold.
- The case involved a 37-year-old Toledo-area man, Notice Alex Simon, who made false identification documents for residents of Ohio, Michigan and Utah. The documents included driver’s permits and personal identification cards. He was paid in bitcoin.
- Simon pleaded guilty to conspiracy to launder money and the transfer of feigned identification documents in June 2019. He was sentenced to two years in prison.
- Prior to this case, Simon was already enquired by the police in 2008 for making fake identifications, but he was never charged.
- In 2015, the authorities traced fake identification pranksters found at a bar near Wittenberg University back to a website Simon built. Court documents detail that after months of research, the police was able to link the fake cards to Simon and others working with him.
- The authorities raided Simon’s to the quick in Toledo along with the homes of others linked to the case. They seized more than 500 bitcoins from Simon help of forfeiture proceedings.
- In forfeiture cases, the proceeds are shared between federal agencies and local police departments complex in the investigation, as well as used to compensate any crime victims. Any remaining money is returned to the U.S. Treasury.
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