Alan Joseph, a man from Massachusetts, has been convicted of running an unlicensed money transmission business and laundering funds by converting cash from sales of counterfeit goods into bitcoin. The conviction, announced by Homeland Security Investigations (HSI), followed a five-day jury trial. Joseph facilitated illegal cash-for-crypto transactions, including a $25,000 conversion related to counterfeit goods sales. He now faces up to 20 years in prison for money laundering and five years for the unlicensed business. Authorities highlighted the significant role Joseph played in supporting criminal activities by processing multiple transactions without proper registration or identity verification.



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