Ex-BitMEX CEO Ducks Prison In Anti-Money Laundering Case
By Rachel Scharf (May 20, 2022, 7:14 PM EDT) -- Former BitMEX CEO Arthur Hayes avoided prison Friday after pleading guilty to flouting U.S. anti-money laundering requirements on the offshore cryptocurrency derivatives exchange, with a Manhattan federal judge rejecting the government's call to send a message to others in the industry.
U.S. District Judge John G. Koeltl sentenced Hayes, 36, to two years' probation with six months of home confinement. The sentence was a loss for prosecutors, who had asked that the former CEO face a substantial period of incarceration for violating the Bank Secrecy Act by knowingly allowing American customers to trade on BitMEX without proper safeguards.
The government said...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!