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Man convicted of running unlicensed bitcoin exchange biz

KEYT

CONCORD, N.H. (AP) — A jury has convicted a New Hampshire man of running an unlicensed bitcoin exchange business and laundering over $10 million in proceeds of romance scams and other internet frauds following a two-week federal trial. The jury convicted Ian Freeman on Thursday. Prosecutors said Freeman catered to fraudsters by failing to register his business with the Financial Crimes Enforcement Network as required by law, disabling ‘know your customer’ features on bitcoin kiosks, and ensuring bitcoin customers didn’t tell him what they did with their bitcoin. His lawyer, Mark Sisti, said Freeman actually warned people of scams and he helped businesses in the community. Sisti said he’s definitely going to appeal.

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