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Two jailed for selling drugs and laundering money using bitcoin via Darknet

A US court authorized the couple who were arrested on charges of laundering $4.5 billion in stolen bitcoins to be released fr
A US court authorized the couple who were arrested on charges of laundering $4.5 billion in stolen bitcoins to be released from jail on $8 million bail.

According to the official announcement from the Department of Justice, Timothy Howell, 46, and Cavin Mower were sentenced to 66 months and 50 months, respectively. Both convicts bought kilogram-quantities of cocaine from a darknet vendor and then resold it to their own customers within Colorado and across the country via their own darknet vendor account. Both the convicts were arrested back in July 2018 and have been in custody ever since.

Convicts shipped 50 kilograms of cocaine through US Postal Service.

Prosecutors accused that Howell and Mower shipped nearly 50 kilograms of cocaine through the US Postal Service. Both the convicts used bitcoin and other cryptocurrencies as a mode of payment. They later laundered the bitcoin proceeds by using a website that allowed them to purchase gift cards. Those gift cards were used to buy goods and services.

“Darknet can not hide drug dealers.”

U.S. Attorney Jason Dunn said that this case demonstrates that the drug dealers can not hide from the law, including on the darknet. IRS Special Agent in Charge Andy Tsui said that Narcotics trafficking and money laundering through the dark web are an ever-increasing method for criminal organizations.

Howell and Mower were charged with money laundering and aggravated identity theft with the conspiracy to distribute cocaine.

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