[vc_row][vc_column][vc_column_text]

Hugo Sergio Mejia operated an unlicensed Bitcoin exchange that handled at least $13 million in Bitcoin and cash.

Mejia exchanged Bitcoin for cash, and vice versa, for over two years, often working with drug dealers. On several occasions, Mejia met with a client, who was working with law enforcement, to exchange Bitcoin for tens of thousands of dollars in cash. The client told Mejia that his primary customer was a methamphetamine buyer in Australia who purchased methamphetamine and sold it in Australia for five times more than the average price in the United States. Mejia and the client conducted five transactions that cumulatively exceeded $250,000. As part of his plea agreement, Mejia agreed to forfeit all assets derived from the illegal conduct, including cash, silver, and various cryptocurrency totaling over $325,000. He was sentenced to three years in federal prison.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][us_image image=”3180″][/vc_column][/vc_row]