The post Bitzlato Co-Founder Pleads Guilty to Money Laundering! appeared first on Coinpedia Fintech News

Anatoly Legkodymov has pleaded guilty to operating an unlicensed money transmitter in connection with allegations that the platform processed funds from criminal activities such as ransomware attacks and drug deals. The Hong Kong-based exchange was sanctioned by the US government in January for laundering over $700 million worth of funds, with the Treasury Department and DOJ designating it as a “primary money-laundering concern.” Legkodymov, a majority owner in Bitzlato, has agreed to dissolve the exchange and release claims over $23 million in seized assets. The case against Legkodymov was moved from Florida to the US District Court for the Eastern District of New York.

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