Bitcoin Dealer Indicted in San Diego With Money Laundering Charges

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A San Diego man described by federal officials as a “prolific Bitcoin dealer” is in custody, on suspicion of sending cash payments overseas to buy Bitcoin and circumvent laws against money laundering.

Jacob Burrell Campos, 21, was arrested August 13 at the Otay Mesa Port of Entry.

Burrell is being held without bond on a 31-count indictment alleging he ran an illegal money transmitting business. If convicted of the charges, Burrell could spend the rest of his life in prison.

Burrell would accept cash either in person or via MoneyGram then deposit the cash into an account in the name of Bitfinex, a crypto-currency exchange in Hong Kong, according to the U.S. Attorney’s Office.

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