Samuel Reid pleaded guilty in a case against the US government. The co-founder of BitMEX pleaded guilty to violating US banking secrecy laws.
BitMEX and cases
In October 2020, three founders of BitMEX and their first employee, Greg Dwyer, were indicted by the U.S. Attorney General’s Service. The group is suspected of providing illegal descendants to US customers, money laundering through crypto exchanges and accepting Iranian customers. The latter is not allowed due to restrictions against the regime.
BitMEX recently paid $ 100 million. But the three co-founders have given different confessions.
“Samuel Reid, along with his co-founders Arthur Hayes and Benjamin Delo, has now admitted to inciting BitMEX to commit criminal violations of anti – money laws applicable to financial institutions operating in the United States.” Attorney Damien Williams said. In a statement.
So the latest ‘victim’ in this case is Samuel Reid. He acknowledged that the US bank had violated the Privacy Act.
The Currency and Foreign Exchange Reporting Act of 1970 (Banking Secrecy Act) should help US financial institutions detect and prevent fraud against US government agencies. So that has nothing to do with it The secret (Or secret) Reed admits failing to find criminal money.
A company that provides services to Americans (or ignores sanctions lists) must comply. As in the case of BitMEX, if you are officially in another country, the United States authorities will intervene.
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