FOLSOM, Calif. — Illegal cryptocurrency exchanges uncovered by the U.S. Attorney's Office led to a Folsom Bitcoin ATM Company having to forfeit a Mercedes-Benz, $1 million in currency and other items.
Court documents say Amani Investments LLC exchanged tens of thousands of dollars without filing Currency Transaction Reports (CTRs) on multiple occasions as required under federal law.
U.S. Attorney's officials say the company violated the Bank Secrecy Act—which is meant to combat money laundering of criminal proceedings. Amani Investments LLC pleaded guilty to conspiring to avoid filing CTRs in February.
“Federal currency transaction reporting requirements are intended to protect our financial system from the influx of criminal proceeds,” said U.S. Attorney Phillip A. Talbert for the Eastern District of California. “The U.S. Attorney’s Office will continue to hold accountable those who seek to evade these requirements.”
