Life imprisonment for money transfers in the absence of a license and the laundering of more than $ 25 million in cryptocurrency such a punishment threatens 25-year-old Los Angeles resident Kunal Kalra. At the moment, the defendant has already pleaded guilty during one of the sessions and is awaiting a final court decision.
According to court documents, from May 2015 to October 2017, Calra ran a virtual currency exchange business without proper permission. The defendant only worked with large clients who wanted to exchange at least $ 5,000 per transaction.
In addition, the accused admitted that he owned a bitcoin terminal in which his clients could cash out cryptocurrency without an identity confirmation. At the trial, Calra admitted that, with the help of his business, he helped his clients launder money, including those from the sale of drugs to Darknet.
Kunal Kalra carried out the above transactions for an additional fee, knowing that he was laundering money obtained by criminal means.
During searches by law enforcement agencies, about $ 889,000 was withdrawn in cash and from Kalra’s bank accounts, as well as about 54.3 bitcoins and other cryptocurrencies.
In addition to this, Kalra was involved in the distribution of methamphetamine. In June 2017, Calra sold nearly two pounds of methamphetamine to an undercover law enforcement officer.