Larry Dean Harmon, the founder and operator of Helix, pleaded guilty to money laundering charges on Wednesday. Harmon’s guilty plea comes after the US Treasury’s Financial Crimes Enforcement Network, (Fincen), which fined Harmon $ 60 millions last year.
Operator Helix pleads guilty in the conspiracy and money laundering cases
According to several reports and a judge-Plea madeOhio resident Larry Harmon (38), pleaded guilty Wednesday before a federal court in DC, to money laundering and conspiracy. Harmon stated to the court that he intends to cooperate with federal authorities, after being accused by mining bitcoin.BTCHelix is a mixing service that was available from 2014 to 2017.
U.S. authorities claim that more than $300 million in bitcoin was stolen from Helix and then sent anonymously. Charles Flood, Harmon’s defense attorney, claims that the operator used a double-blind system, so he didn’t know how much. BTCHelix was used as the route.
Flood: “An interesting fact about this case was that Harmon had set up a double blind system with Helix,” Flood Not notedWednesday, Federal Courtroom “Although he fully admits that he broke the law and was in fact laundering money and knew it was the proceeds of drugs… he does not know the exact amount laundered,” Flood addedFlood. .
Bitcoin Mixer was created to hide criminal transactions. Federal authorities plan to seize 3 properties
In a US Department of Justice Press releaseDon Fort, IRS Chief Criminal Investigations, stated that Harmon was trying to hide funds. “The sole purpose of Harm’s operation was to conceal criminal transactions from law enforcement on the Darknet, and due to our growing expertise in this area, he could not keep that promise,” Fort said. At the time.
The US government is asking to take three properties Harmon has in Ohio. The court’s request explains that Harmon’s properties in Akron, Ohio and the property he has in Aurora, Colorado are wanted by the federal government.
“That was the purpose of the conspiracy for the accused. Harmon and other co-conspirators to illegally enrich themselves by operating a bitcoin money laundering service that would cover up and promote illegal sales of Darknet drugs and other illegal activities, ”the Justice Department documents note.
Harmon also pleaded guilty in conspiracy to the former darknet giant Alphabay. A Federal Bureau of Investigation (FBI), working undercover, “transferred 0.16 Bitcoin from an Alphabay bitcoin wallet into Helix” on or around November 8, 2016. The agent then exchanged them BTCIt was not “directly traceable” to Alphabay, notes the court statement.
What do you think about Helix’s founder and operator pleading guilty for money laundering and conspiracy to create a bitcoin mixing service? Let us know what your opinion is in the comments below.
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