BitMEX Founder 'Ben Delo' Surrenders In Money Laundering Case.
2021-03-16 | Big Bob
One among the founders of the renowned
crypto derivatives exchanges BitMEX surrendered to United States authorities to face charges of violating the Bank Secrecy Act earlier on Monday.
Ben Delo traveled from
the United Kingdom to the U.S. and appeared before Magistrate Judge Sarah L.
subside a foreign proceeding where he pleaded
acquitted,
consistent with public court records.
He was subsequently released on a $20 Mln
bail, on Monday, with
a standing conference set for May,
consistent with court records. Bloomberg further reported that Delo
is going to be allowed to return to
the United Kingdom under the terms of his bail.
Delo, alongside BitMEX co-founders Arthur Hayes and Samuel Reed, were charged with violating the BSA and conspiracy to violate the BSA earlier in October by the U.S. DOJ [Department of Justice] CFTC [Commodity Futures Trading Commission].
BitMEX’s first employee, Gregory Dwyer, was also charged.
Beneath the BSA, financial institutions are required
to offer documentation to regulators with transactions over $10k. Its stated purpose is
to stop criminals from laundering large sums
of money at banks a
t all.
“The charges against Ben are unfounded and represent unwarranted overreach by the U.S. authorities,” Rachel Miller, a spokesperson for Delo, told Bloomberg. “Ben intends to defend himself against the fees and clear his name in court.”
Also, earlier this month, Jessica Greenwood, an assistant United States attorney for the Southern District
of New York, added that she had been in talks with Haye’s lawyers. Court documents
reveal Greenwood claimed to “have discussed with counsel
the way to arrange for a voluntary surrender” for Hayes and for an agreement
to seem remote or come to
NY “as required at the time.” Reed was arrested last year & subsequently released on bond.
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