Cryptos have utility for those who invest funds in them. For some, it’s a way to diversify their asset portfolio. Others, however, see them as an effective means of hiding the source of illicitly earned funds.
The cryptos used by a drug baron to launder $2.1 million
In the United Kingdom, Amir Khan, the leader of a gang of drug traffickers, has been talked about in a case related to cryptos. The 30-year-old acquired $2.1 million in cryptos. A transaction carried out with the aim of laundering part of the funds obtained from the sale of drugs.
This activity earned him an 88-year prison sentence. He is also sentenced to another seven months in prison for helping distribute Class A drugs.
The sentencing of Amir Khan, which took place in Great Britain, comes after the dismantling of his network. An operation which, to succeed, gave rise to nearly two years of investigation.
This not only to understand the strings of the network and the extent of the activities it operates. And we can say that the extent of Amir Khan’s criminal activities shocked more than one, starting with the judge.
These “amazing” operations, in the words of the British magistrate, involved up to twelve members. A team that brewed nearly 5.2 million dollars before being arrested. The Cardiff Crown Court ruled their condemnation Thursday July 27. This, for the sale of more than 40 kg of cocaine, ecstasy, ketamine and other class A drugs.
Michale Coles, one of the investigators, spoke about the case. According to him, it would never have been completed without the diligent effort of the cybercrime unit. This case marks, according to him, a turning point in the fight against financial crimes linked to cryptos in the Gwent region.
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