CandleFocus Feds Target Businessman in Alleged Web of Secret Crypto Deals
2024-10-26
Author: Content Editor
The U.S. Department of Justice (DOJ) has charged businessman Christopher James Scanlon with running an unlicensed cryptocurrency operation. Scanlon, CEO of Aurae Lifestyle and Club Swan, allegedly provided cryptocurrency and traditional financial services without registering his businesses as money transmitters with FinCEN. Prosecutors claim that from 2015 to 2019, Scanlon conducted off-the-books cryptocurrency transactions without regulatory approval. Scanlon has pleaded not guilty to the charges. If found guilty of conspiracy, he could face up to five years in prison and a fine of up to $250,000 or twice the pecuniary gain.
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