Faiella was the person of contact with the buyers and used the pseudonym BTCKing to carry out the trade.
These two were caught red-handed when an undercover agent used the scheme.
He would then credit the buyers Bitcoin wallet.
But the young blood angle didnt do any wonders on the presiding District Judge Jed Rakoff.
Shrem pleaded the Judge for mercy,
I screwed up.
The Bitcoin community, theyre scared and there is no money laundering going on any more.
I need to be out there.
He felt this would send out a message to other trying the same scheme.
I’ve been sentenced to 2 years, to self surrender in 90 days.
Resource :Engadget
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source: www.techworm.net
