Trung Nguyen, a man from Massachusetts, has been found guilty of money laundering and operating an unlicensed cryptocurrency business. Nguyen converted more than $1 million in cash into bitcoin through his company, National Vending, which offered a cash-to-bitcoin service with no questions asked. He knowingly processed funds for criminals, including a meth dealer and romance scam victims, without registering with FinCEN or following anti-money laundering regulations. Nguyen used various tactics to conceal his operations and evade detection. He could face up to 20 years in prison and $750,000 in fines. Authorities emphasize that cryptocurrency cannot be used to launder money anonymously without consequences.



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