Feds Accuse Bitcoin Fog Operator Of Money Laundering
Law360 (April 28, 2021, 7:00 PM EDT) -- The purported operator of cryptocurrency mixing service Bitcoin Fog on Tuesday was arrested in Los Angeles and accused of laundering hundreds of millions of dollars worth of bitcoin.
Roman Sterlingov, a citizen of Russia and Sweden, is facing money laundering and unlicensed money transmission charges in Washington, D.C., federal court for running what the FBI and IRS say is an "illicit bitcoin money transmitting and money laundering service."
According to the government, Bitcoin Fog operates as a "tumbler" or "mixer" service, which allows customers to send bitcoin to recipients in a way that conceals the source of the cryptocurrency. The process...
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