Founder Roman Storm cuffed on laundering, sanctions busting charges
[PDF], prosecutors said Tornado Cash boasted about its anonymizing features and that it could make money untraceable, and that Storm and Semenov refused to implement changes that would dial back Tornado's thief-friendly money-laundering capabilities and bring it in line with financial regulations.
"Tornado Cash failed to establish an effective [anti money laundering] program or engage in any [know your customer] efforts," Dept of Justice lawyers argued. Changes made publicly to make it appear as if Tornado Cash was legally compliant, the DoJ said, were laughed off as ineffective in private messages by the charged pair.
"While publicly claiming to offer a technically sophisticated privacy service, Storm and Semenov in fact knew that they were helping hackers and fraudsters conceal the fruits of their crimes," said US Attorney Damian Williams."Today's indictment is a reminder that money laundering through cryptocurrency transactions violates the law, and those who engage in such laundering will face prosecution.
in The Netherlands shortly after the US sanctioned the crypto-mixing site. Persev was charged in that Euro nation with facilitating money laundering and concealing criminal financial flows, and is now out of jail on monitored home release awaiting trial.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
'Inspirational' founder of Bristol Hawks Gymnastics dies aged 90Michael May's family say he will be remembered as a 'kind and generous man'.
Read more »
FTX founder Bankman-Fried living on bread and water, lawyer saysA vegan diet requested by the FTX founder while he is in prison is not being provided, a judge was told.
Read more »
Wagner founder Dmitry Utkin 'on same crashed plane as Yevgeny Prigozhin'Dmitry Utkin, the founder of the private militia, is believed to have been a passenger on the jet which crashed northwest of Moscow.
Read more »
Watch esports tournament and win prizes at Liverpool venueSpectators can win cash and food at the event
Read more »
Man arrested after cops stop car on M6 and find £250,000 in cashThe cash was found in 'tightly wrapped bundles' in the back of the Kia Sportage
Read more »
Reports taxi driver racially abused in 'distressing' attackOne of the passengers allegedly snatched some cash from the driver
Read more »