Four British Citizens Go to Jail for Laundering $26M in Crypto

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The Crown Court in Preston has sentenced four citizens for defrauding and laundering about $26 million in crypto from an Australian exchange, the Crown Prosecution Service (CPS) has reported.

According to the agency, between October 2017 and January 2018, the accomplices collaborated with the mastermind of the conspiracy, James Parker, who worked as a financial consultant and found a security vulnerability in the trading platform.

They received a $26 million loan from the exchange and spent it on expensive items. Part of the funds were cashed out by the criminals.

The four accomplices have received various terms: from 6 years in prison to 18 months probation.

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