- Benjamin Dalo and Sam Reed also pleaded guilty
- Two other co-founders have also been ordered to pay $10 million each
- BitMEX was founded in 2014, the parent company is HDR Global Trading
Bitmex prime supporter Arthur Hayes won’t jail for disregarding the U.S. Bank Secrecy Act. All things considered, the previous crypto trade CEO has been condemned to a half year of home confinement and two years of probation. Hayes has consented to pay a fine of $10 million.
Bitmex’s Arthur Hayes Sentenced
The U.S. Branch of Justice (DOJ) reported Friday that the organizer and previous CEO of digital currency subordinates trade Bitmex has been condemned for disregarding the Bank Secrecy Act (BSA). Hayes conceded to abusing the Bank Secrecy Act in February.
The DOJ states that Hayes, 36, of Miami, Florida, was condemned to a half year of home confinement and two years of probation. Hayes additionally consented to pay a fine of $10 million bucks addressing his monetary increase from the offense.
U.S. Lawyer Damian Williams made sense of that while building a digital money exchanging stage that benefitted him a huge number of dollars, Hayes adamantly challenged U.S. regulation that expects organizations to do their part to help in forestalling wrongdoing and defilement.
Williams added that he deliberately neglected to carry out and keep up with even fundamental enemy of tax evasion arrangements, which permitted Bitmex to work as a stage in the shadows of the monetary business sectors.
Two other Bitmex prime supporters, Benjamin Dalo and Sam Reed, likewise confessed and are booked to be condemned sooner rather than later.
Like Hayes, the two other prime supporters have additionally been requested to pay $10 million each in a common money related punishment.
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More about Arthur Hayes
Arthur Hayes is an American broker, business person, subordinate dealer, Bitcoin advocate, and a fintech pioneer. He was the CEO, and prime supporter of BitMEX alongside Ben Delo, and Samuel Reed. BitMEX was established in 2014, the parent organization is HDR Global Trading.
Hayes is the previous CEO of BitMEX and parent organization 100x Group. BitMEX is an advanced resource exchanging stage which has exchanged trillions of dollars on the digital currency trade. BitMex is situated in Seychelles. Hayes is situated in Hong Kong. In October 2020, Hayes ventured down as CEO of BitMEX.
Source: https://www.thecoinrepublic.com/2022/05/23/arthur-hayes-avoids-prison-for-violating-us-bank-secrecy-act/