Bitcoin Exchange Coin.mx Founder’s Father Pleads Guilty to Obstruction

Readers may recall CCN’s previous reporting on Coin.mx, a Florida-based bitcoin exchange which shut down amid charges of money laundering and connections to a JP Morgan Chase hack. The case even roused a Federal judge to rule on whether or not Bitcoin is money, and according to him, it is. Now Anthony Murgio’s father, Mike Murgio, has struck a deal with prosecutors in regards to his charge of having bribed bank officials to conceal his son’s activity.
The deal, which was concluded last Thursday, has Murgio pleading guilty to a lesser charge of obstructing examination of a financial institution, a crime which could result in up to five years in prison when he is sentenced on January 27th.
Murgio was apparently an educator for the duration of his career and had some notability as having served on a local school board in Palm Beach, Florida. The deal does not get the prosecution Murgio’s testimony against his son, who is facing multiple more serious charges in relation to his unlicensed operation of Coin.mx and purchase of a federal credit union for the purpose.

This post was published at Crypto Coins News on 31/10/2016.