On October 7, The US Department of Justice (DOJ) charged John Khuu, resident of California, for allegedly utilising Bitcoin to launder $5.4 million in earnings from drug trafficking.
As per the accusation, Khuu sold restricted substances and fake pharmaceuticals drugs on dark web markets. Customers paid him in Bitcoin for their purchases.
Khuu and his associates opened dozens of accounts with prestigious American banks such as JPMorgan Chase, Bank of America, and Citibank in order to exchange the bitcoin for fiat currency.
The plaintiff reportedly laundered BTC worth around $5.4 million over the course of his activities.
The DOJ arrested Khuu on August 19, 2022. He is currently being prosecuted on two counts of conspiracy to import restricted narcotics and in money laundering. Khuu would have to spend 40 years in jail if found guilty.
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