Benjamin Delo Bitcoin Samuel Reed New York Usa city New York state Hawaii county Arthur county Hayes Blockchain BitMEX Court Benjamin Delo Bitcoin Samuel Reed New York Usa city New York state Hawaii county Arthur county Hayes

Arthur Hayes to serve 2-year probation owning up to BitMEX’s AML mishap

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cointelegraph.com

Bringing closure to the long-awaited judgment related to the money laundering activities over the BitMEX crypto exchange, one of the four federal district courthouses in New York reportedly sentenced two-year probation and six months of home detention to founder and ex-CEO Arthur Hayes.Arthur Hayes, along with the other BitMEX co-founders — Benjamin Delo and Samuel Reed — and the company’s first non-employee Gregory Dwyer, pleaded guilty to the Bank Secrecy Act (BSA) violations on Feb 24, admitting to “willfully failing to establish, implement and maintain an Anti-Money Laundering (AML) program at BitMEX.”Pleading guilty to supporting money laundering is a punishable offense, often carrying a maximum penalty of five years prison time.

However, both Hayes and Delo made their guilty pleas ahead of the March trial date and had agreed to pay $10 million in criminal fines each.On April 7, Cointelegraph reported that Hayes voluntarily surrendered to US authorities in Hawaii six months after federal prosecutors first levied charges, to which his lawyers stated:According to the indictment, public court filings, and statements made in court, Hayes was released after posting a $10-million bail bond pending future proceedings in New York.

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