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Man gets 3-year prison sentence for Bitcoin money laundering
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A Southern California man was sentenced to three years in federal prison for operating an unlicensed business that exchanged at least $13 million in Bitcoin and cash, the U.S. Attorney’s Office said.
Hugo Mejia, 50, of the city of Ontario purposefully flouted money exchange regulations and structured his business to establish an anonymous conduit for money laundering of drug trafficking proceeds, federal prosecutors wrote in a sentencing memorandum.