Bitcoin Laundering Operator gets 5 ½ years in Prison - This is why we can’t have nice things
101 restaurant was once a favorite restaurant of Tallahassee, Florida residents and visitors.
Their sophisticated menu and great happy hour specials were often times the talk of the talk of the town. Anthony Murgio was a co-founder of 101 along with Adam Corey back in 2009. 101 was closed abruptly in 2016.
This week, former co-founder, Anthony Murgio was sentenced to 5 and a half years in prison for supposedly helping criminals process millions of dollars in illegal bitcoin transaction.
In order to help operate the scheme, Murgio and a few others took control of a New Jersey credit union to process the transactions.
Murgio along with his father and some friends created a business allowing people to buy bitcoins in order to launder their money. On the outside it looked like their customers were buying sports memorabilia and stamps.
In total, they processed $60 million in transactions, but only a little over $10 million were processed in Bitcoins. The misleading piece about this article is that it wasn’t entirely due to processing bitcoins, but the first sentence says…
Murgio along with his father and some friends created a business allowing people to buy bitcoins in order to launder their money. On the outside it looked like their customers were buying sports memorabilia and stamps.
Of course this becomes a hit piece on Bitcoins and how they are only used for illegal activities…
Are you surprised the story started and ended with Bitcoins?
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Any negative press on bitcoin will be exploited. That's how you know that ~they~ are scared. @ironshield
You are exactly right.. That is what the MSM does..
not surprised at all... anything disruptive is treated that way... paint it black and hope that it sticks...
but revolution will not be televised ;) it may be steemed though!
It most definitely will be steemed! Without a doubt! I can't say I am surprised by this spin though..
Another attempt by the lamestream media to smear the image of crypto...gotta spoonfeed the sheep what they should think
That is well said. That is exactly what has happened in the past. I do find it somewhat interesting that there is actually some positive information coming out about it
I look forward to when Canada starts targeting Bitcoin as well, we will know we are successful when all governments are against crypto, remember first they slander then they bargain.
It's only a matter of time until most of the world targets Bitcoins.. Cryptos are the central banks nemesis! You are right that in the end they will have to bargain!
Damn straight bro and by that time it wont even matter. :) Steem on friend.
I fucking hate the government and I love bitcoin because it takes power away from the government. "Land of the free" my ass
Thats a lot of transactions!! Figures they would spin it to make Bitcoin look like the favorite tool of the criminals.
A hell of a lot of transactions... $50k I think was the average size..
This is so stupid,"Bitcoins are only used for illegal activities".It's estimated that 1-2 trillion of "real" USD are getting laundered every year.All Bitcoins that exists are probably not worth 1/4 of that money.Every type of money is used for illegal activity,so is BTC.People will never create "perfect" currency that won't be used in illegal activity's.So,to say that BTC is only used in illegal activity is so stupid argument..
That is what is so frustrating.. For instance, the visa gift cards sold on Amazon have been linked to funding terrorism, but yet Visa and Amazon never get negative press for this..
The media, government, and business are entangled to push forward their own agenda. It's no surprise this story began and ended with Bitcoin. Decentralization is the arch enemy of the Big 3.
I read an article about the U.S. doing some type of review on Bitcoin a few years ago(I can't find the article). They couldn't support it. You know why? Decentralization.
But A Fed Coin created by the Federal Reserve where Student Loans are considered Assets? Yeah, that's ok.
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Very good point. The media loves to twist it every time!
They really do! It has become comical!!