US citizen may face an imprisonment and property seizure for Bitcoin trading

Theresa Tetley from Los Angeles can get fairly long imprisonment for illegal Bitcoin trading on LocalBitcoins website. The woman traded cryptos from 2014 to 2017, without the appropriate license.

A 50-year-old American, known on the mentioned website as Bitcoin Maven, has mastered crypto business fairly well, which, according to preliminary estimates, brought her about $300.000 per year. As a result, she was arrested for illegal financial services. The prosecution requires 30-month imprisonment and property seizure: 40 Bitcoins, almost $292.000, and gold bars, which were acquired through the illegal operations.

This issue assumed severe dimensions when it became obvious, that Theresa Tetley was involved in money laundering — she participated in the drug trading operations. It should be noted, that the woman has already pleaded guilty. The verdict has not been announced yet; the court session has been postponed for some indefinite period.

Earlier in 2017, several US residents were already criminated for illegal using of LocalBitcoins to exchange cryptos.

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