The U.S. Attorney’s Office in Manhattan said on Thursday that BitMEX founders Arthur Hayes and Benjamin Delo had pled guilty to violating the Bank Secrecy Act’s anti-money-laundering provisions.
Hayes and Delo will each pay a fine of $10 million under the terms of the plea bargain.
The Department of Justice and the Commodity Futures Trading Commission charged Hayes and Delo. Also, along with two other BitMEX workers, in fall 2020 with operating an unlicensed trading platform. Then, and violating the Bank Secrecy Act’s anti-money laundering and know-your-customer laws.
Authorities seized BitMEX cash in connection with the infraction. Then, and the derivatives exchange agreed to pay up to US$100 million to settle the accusations last year.
Prosecutors charged BitMEX with failing to execute basic client identity checks. Thereby, ignoring money laundering reports, and hosting criminal transactions in violation of US sanctions.
Following the allegations, Hayes resigned as CEO of BitMEX, and the exchange is now led by Alexander Höptner.
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