Man Pleads Guilty To Bitcoin Laundering Scheme

Hey ninjas, how’s the trading? The largest and most popular Cryptocurrency Bitcoin is reporting losses of 0.21% on the day and is currently trading at $10,097 at press time. Bitcoins market cap is valued at $180 billion. In other news according to an official statement released on the 22nd of August the United States Federal Trade Commission (FTC) has reached an agreement on the charges filed against four individuals for an alleged crypto pyramid scheme.

On the 23rd of August, U.S news reported that Kunal Kalra a 25-year-old has pleaded guilty to charges against him and now faces possible life imprisonment. He was charged with distribution of methamphetamines and money laundering. Methamphetamine is a highly potent recreational drug that stimulates the central nervous system. The authorities made claims that from 2015 to 2017 Kunal Kalra exchanged Bitcoin to dollars and ran a Bitcoin ATM, Kalra admitted to that he had made deals with drug dealers and other criminals.

Kunal Kalra is reported to have sold two pounds of meth to an undercover law enforcement agent and he also faces money laundering charges in Texas.

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