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3 count indictment unsealed for man who laundered $300M of bitcoin
Posted on 2/16/20 at 3:28 pm
Posted on 2/16/20 at 3:28 pm
An Ohio man was arrested for his operation of Helix, a Darknet-based cryptocurrency laundering service.
In the three-count indictment unsealed Feb. 11 in the District of Columbia, Larry Harmon, 36, of Akron, Ohio, was charged with money laundering conspiracy, operating an unlicensed money transmitting business and conducting money transmission without a D.C. license.
According to the indictment, Harmon operated Helix from 2014 to 2017. Helix functioned as a bitcoin “mixer” or “tumbler,” allowing customers, for a fee, to send bitcoin to designated recipients in a manner that was designed to conceal the source or owner of the bitcoin. Helix was linked to and associated with “Grams,” a Darknet search engine also run by Harmon. Harmon advertised Helix to customers on the Darknet as a way to conceal transactions from law enforcement.
“Helix allegedly laundered hundreds of millions of dollars of illicit narcotics proceeds and other criminal profits for Darknet users around the globe,” said Assistant Attorney General Brian A. Benczkowski of the Justice Department’s Criminal Division. “This indictment underscores that seeking to obscure virtual currency transactions in this way is a crime, and that the Department can and will ensure that such crime doesn’t pay.”
“For those who seek to use Darknet-based cryptocurrency tumblers, these charges should serve as a reminder that law enforcement, through its partnerships and collaboration, will uncover illegal activity and charge those responsible for unlawful acts,” said U.S. Attorney Timothy J. Shea of the District of Columbia.
“The brazenness with which Helix operated should be the most appalling aspect of this operation to every day citizens. There are bad actors and then there are criminals who facilitate hundreds of other crimes,” said Don Fort, Chief, IRS Criminal Investigation. “The sole purpose of Harmon’s operation was to conceal criminal transactions from law enforcement on the Darknet, and because of our growing expertise in this area, he could not make good on that promise. Working in tandem with other sites, he sought to be the ‘go-to’ money launderer on the Darknet, but our investigators once again played the role of criminal disrupters, unraveling the interlinked web from one tentacle to another. We thank the Belizean authorities and other law enforcement agencies for their assistance on this case.”
“The perceived anonymity of cryptocurrency and the Darknet may appeal to criminals as a refuge to hide their illicit activity,” said Special Agent in Charge Timothy M. Dunham of the Criminal Division of the FBI Washington Field Office. “However, as this arrest demonstrates, the FBI and our law enforcement partners are committed to bringing the illegal practices of money launderers and other financial criminals to light and to justice, regardless of whether they are using new technological means to carry out their schemes.”
The indictment alleges that Helix moved over 350,000 bitcoin – valued at over $300 million at the time of the transactions – on behalf of customers, with the largest volume coming from Darknet markets. Helix partnered with the Darknet market AlphaBay to provide bitcoin laundering services for AlphaBay customers. AlphaBay was one of the largest Darknet marketplaces in operation at the time that it was seized by law enforcement in July 2017.
LINK
In the three-count indictment unsealed Feb. 11 in the District of Columbia, Larry Harmon, 36, of Akron, Ohio, was charged with money laundering conspiracy, operating an unlicensed money transmitting business and conducting money transmission without a D.C. license.
According to the indictment, Harmon operated Helix from 2014 to 2017. Helix functioned as a bitcoin “mixer” or “tumbler,” allowing customers, for a fee, to send bitcoin to designated recipients in a manner that was designed to conceal the source or owner of the bitcoin. Helix was linked to and associated with “Grams,” a Darknet search engine also run by Harmon. Harmon advertised Helix to customers on the Darknet as a way to conceal transactions from law enforcement.
“Helix allegedly laundered hundreds of millions of dollars of illicit narcotics proceeds and other criminal profits for Darknet users around the globe,” said Assistant Attorney General Brian A. Benczkowski of the Justice Department’s Criminal Division. “This indictment underscores that seeking to obscure virtual currency transactions in this way is a crime, and that the Department can and will ensure that such crime doesn’t pay.”
“For those who seek to use Darknet-based cryptocurrency tumblers, these charges should serve as a reminder that law enforcement, through its partnerships and collaboration, will uncover illegal activity and charge those responsible for unlawful acts,” said U.S. Attorney Timothy J. Shea of the District of Columbia.
“The brazenness with which Helix operated should be the most appalling aspect of this operation to every day citizens. There are bad actors and then there are criminals who facilitate hundreds of other crimes,” said Don Fort, Chief, IRS Criminal Investigation. “The sole purpose of Harmon’s operation was to conceal criminal transactions from law enforcement on the Darknet, and because of our growing expertise in this area, he could not make good on that promise. Working in tandem with other sites, he sought to be the ‘go-to’ money launderer on the Darknet, but our investigators once again played the role of criminal disrupters, unraveling the interlinked web from one tentacle to another. We thank the Belizean authorities and other law enforcement agencies for their assistance on this case.”
“The perceived anonymity of cryptocurrency and the Darknet may appeal to criminals as a refuge to hide their illicit activity,” said Special Agent in Charge Timothy M. Dunham of the Criminal Division of the FBI Washington Field Office. “However, as this arrest demonstrates, the FBI and our law enforcement partners are committed to bringing the illegal practices of money launderers and other financial criminals to light and to justice, regardless of whether they are using new technological means to carry out their schemes.”
The indictment alleges that Helix moved over 350,000 bitcoin – valued at over $300 million at the time of the transactions – on behalf of customers, with the largest volume coming from Darknet markets. Helix partnered with the Darknet market AlphaBay to provide bitcoin laundering services for AlphaBay customers. AlphaBay was one of the largest Darknet marketplaces in operation at the time that it was seized by law enforcement in July 2017.
LINK
Posted on 2/16/20 at 3:42 pm to BeNotDeceivedGal6_7
quote:
Helix allegedly laundered hundreds of millions of dollars of illicit narcotics proceeds and other criminal profits for Darknet users around the globe
I'll take "Things the United States government does every day" for 100, Alex!
Posted on 2/16/20 at 3:48 pm to BeNotDeceivedGal6_7
quote:
We thank the Belizean authorities and other law enforcement agencies for their assistance on this case.
It's ok to have foreign governments assist in taking down a bitcoin launderer....Not a former VP however...
Posted on 2/16/20 at 3:53 pm to BeNotDeceivedGal6_7
It's hard for me to get mad at people who try to hide from our current federal government.
Posted on 2/16/20 at 4:20 pm to wheelr
quote:
It's hard for me to get mad at people who try to hide from our current federal government.
Especially the previous administration.
Posted on 2/16/20 at 4:31 pm to BeNotDeceivedGal6_7
Are you saying someone involved with bitcoin is a crook?!?
I'm shocked! Shocked, I tell you!!
I'm shocked! Shocked, I tell you!!
Posted on 2/16/20 at 4:38 pm to SCLibertarian
quote:
I'll take "Things the United States government does every day" for 100, Alex!
Maybe that is where discovery will lead?
Posted on 2/16/20 at 4:40 pm to BeNotDeceivedGal6_7
Did you get heem now?
This post was edited on 2/16/20 at 4:49 pm
Posted on 2/16/20 at 4:53 pm to BeNotDeceivedGal6_7
This guy is fricked.
Posted on 2/16/20 at 5:00 pm to BeNotDeceivedGal6_7
One thing we know for sure, that person was not a Deep State politician giving money to the democrats.
Posted on 2/16/20 at 6:30 pm to Gus007
He definitely didn't launder money for democrats.
This post was edited on 2/16/20 at 6:32 pm
Posted on 2/16/20 at 7:37 pm to BeNotDeceivedGal6_7
If bitcoins are not "Money" how can they charge him with money laundering? Maybe he should have stuck to using seashells and beads as currency like thy did in the past. At least those can be stored securely in a hole in the ground.
Posted on 2/16/20 at 9:21 pm to LSURussian
quote:
LSURussian
quote:
Are you saying someone involved with bitcoin is a crook?!?
You are a fricking stooge for the international banking cartel.....the means by which the illuminati enslaves humanity. Get your head out of your arse.
This post was edited on 2/16/20 at 9:23 pm
Posted on 2/17/20 at 5:38 pm to Vastmind
quote:
You are a fricking stooge for the international banking cartel.....the means by which the illuminati enslaves humanity. Get your head out of your arse.
Posted on 2/17/20 at 6:00 pm to SidetrackSilvera
quote:
This guy is fricked
How so?He's loaded and he's gonna have a lineup of ex Feds as his attorneys.
He'll pay some bullshite fine,get probation and move on.
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