Louis Ong (Ong Louis), cryptocurrency trader from Vancouver, was sentenced to 20 days in a U.S. prison for the unlicensed trading. Ong was arrested by Federal agents as part of operation undercover. In addition to jail, Ong will also be seized $1.1 million worth of bitcoin and cash.
For the first time the Department of homeland security (DHS) drew attention to the Ong in 2016, after he posted an online ad about your business on trade bitcoins. Federal agents soon contacted him and immediately agreed to sell the cryptocurrency for $ 12,000. Ong met with the undercover agents, and the deal was done. Soon the agents again contacted Ong for another purchase cryptocurrencies, this time for $ 50,000.
One of the warning signs for agents of steel high Commission charged Ong. In a court statement
one of the agents says:
«Based on my training and experience, I know it’s much higher service fees than the Commission charged by licensed cryptocurrency exchanges».
According to the details of the operation notified to the media, Ong never asked customers about the origin of the funds paid to him. After one of the agents mentioned that makes a deals with drugs, Ong said:
«So here’s what I usually tell people: I don’t care what they use bitcoin. I’d rather not know, so I was calmer. I don’t care by what means you buy or sell bitcoins, so please don’t mention it, and tell your friends so that they too did not talk about».
After several transactions, Federal agents talked to the Ongal together with the task force to combat money laundering, after which he agreed to stop unlicensed trading activity with cryptocurrencies. But he violated the terms of the transaction and carried out three more unlawful sale of bitcoins to undercover agents.
Ong was arrested on 21 July 2017 and he was indicted on five counts of money laundering, and on another in connection with the management of an unregistered company engaged in remittances. According to the indictment, a total of Ong washed about 290,000 US dollars.
2016 DHS actively monitors trade bitcoin. Several Americans have been detained in recent months in connection with the illicit trade in cryptocurrencies. In March this year a resident of the state Pennsylvania was sentenced
to a year in jail for selling bitcoins for $ 1.5 million police agent undercover. In February of this year authorities arrested
Morgan Romansa (Morgan Rockcoons), CEO of Bitcoin Inc. According to the court, Romans was accused of money laundering and unlicensed management company engaged in remittances.
Not only the American authorities concerned about the illegal trade cryptocurrencies. In March of this year the Dutch public Prosecutor demanded that the court sentenced the 38-year-old Briton to five years in prison for laundering about 11.5 million Euro in bitcoin in the period from 2014 to 2016.