A California Man Sentenced to 87 Months in Prison for Involvement in Bitcoin Money Laundering

BlockBeats News, March 14th, according to Decrypt's report, 29-year-old John Khuu from San Francisco, California, after admitting to conspiring to commit money laundering and conspiring to operate an unlicensed money transmission business, has been sentenced to 87 months in federal prison.

According to Texas authorities, Khuu's operation involved importing ecstasy from Germany and selling it on multiple dark web markets, accepting Bitcoin as payment. Allegedly, Khuu then converted the Bitcoin held in seller accounts into dollars and laundered the dirty money through "hundreds of transactions and dozens of financial accounts." The man was also separately charged in Northern California for the illegal importation of a Schedule I controlled substance.

The arrest of this individual is part of Operation Crypto Runner, an action that is part of a multi-year joint investigation announced by the Department of Justice (DOJ), the United States Secret Service (USSS), and the Postal Inspection Service (PIS) since November 2022.