US Court Orders Drug Dealer to Forfeit Bitcoin

Hey ninjas, how’s the trading going? After achieving a price value above 10k, the largest cryptocurrency Bitcoin dipped below 10k and has been trading in the low $9,000s. Bitcoin is trading at $9,282 at press time and is up 1% in the last 24 hours. 

Christopher Bania, a drug dealer who recently pleaded guilty to drug distribution has been ordered by a United States court to forfeit 17 Bitcoins worth $150,000.

Bania was ordered by a court in Wisconsin to forfeit approximately 16.91880054 which was seized from his local Bitcoin account, a sum of $50,000 cash was also seized from his residence upon his arrest.

Though the Bitcoin seized from Bania is worth roughly $154,100 the defendant will be receiving much less than 124 BTC. 

Christopher Bania was originally charged with importation of controlled substances, maintaining a drug property and money laundering, he only pleaded guilty to the single charge of possession of controlled substances with intent to distribute.

He admitted to selling marijuana, MDMA, LSD, and cocaine on the dark web but denied selling the other substances which were also found at his home, these include heroin and methamphetamines, the charge alone carries a maximum sentence of 20 years. 

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