A digital currency company has incurred a nearly $3 million penalty for sanctions violations less than a year after its directors agreed to pay $300,000 to settle anti-money laundering deficiencies.
A federal judge sentenced a digital currency company and its directors to three years of probation and a joint $300,000 fine after a plea deal on charges that the company had helped criminals launder money.
Online digital currency business E-Gold and its three principal directors admitted late Monday to laundering money and operating as an unlicensed money transmitting business.
Two Brooklyn men were charged with operating an illegal online money-transfer business that bought and sold more than $30 million in e-gold globally since 1999, according to Manhattan District Attorney Robert Morgenthau.
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