A federal grand jury has charged one man with operating an unlicensed money transmitting business and two others with money laundering and related charges in the first bitcoin-related case before the Western District of New York, according to the U.S. Attorney’s Office and the Western District of New York.
The grand jury has charged Richard Petix of Rochester, N.Y. with operating an unlicensed money transmitting business and making false statements. The grand jury also charged Zhe Wang, 20, and Kevin Szura, 20, both of Queens, N.Y., with money laundering, conspiracy to distribute controlled substances, conducting a transaction in criminally derived property and money laundering conspiracy.
Defendants Face Prison
Petix faces five years on each charge while the other two men face up to 20 years in prison, according to U.S. Attorney William J. Hochul, Jr.
“This case demonstrates the ever-growing ways in which the virtual world is intersecting with, and being exploited by, real life crime and criminals,” said Hochul. “Those involved in such illicit activities should know that law enforcement