Martin Mizrahi, CEO of a company suspected of laundering $4 million in Bitcoin, faces up to 127 years in prison

03/07 05:55

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On March 7th, the US Department of Justice announced that Martin Mizrahi, the CEO of an internet company in Las Vegas, could face up to 127 years in prison. He is accused of using Bitcoin to launder over $4 million, which was related to a Mexican drug cartel and a hacked charity organization. Mizrahi received illegal funds through his company LV.net, converted them into Bitcoin, and then sent them to anonymous encrypted accounts. In addition, he is also accused of laundering $3 million through email scams and committing credit card fraud worth $8 million.

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