The net return from the sale of 500 Bitcoin seized back in 2018 was $19,23 million, which is the largest net forfeiture in Northern District of Ohio’s history
Federal authorities in the US state of Ohio sold Bitcoin seized in 2018 in a fraud case. The total number of BTC seized was 500, which sold for nearly $19.23 million.
Federal authorities in the U.S. state of Ohio have sold Bitcoin seized back in 2018 in a fraud case
Acting US Attorney Bridget M. Brennan announced on Thursday that a total of 500 Bitcoins seized were sold for nearly $19.23 million. This is believed to be the largest robbery in the history of the Northern District of Ohio.
The case involves a 37-year-old Toledo man, Mark Alex Simon. According to court documents, Simon produced and sold false identification documents; to include false identification documents which appeared to be driver’s licenses and personal identification cards issued by the states of Ohio, Michigan, and Utah. Individuals seeking to purchase these false identification documents that the defendant produced would order the documents from Simon’s website.
Mark Alex Simon, 37, of Toledo, was previously sentenced to 24 months in prison for Transferring False Identification Documents or Authentication Features and Conspiracy to Launder Money following an earlier guilty plea
The purchaser sent a digital photo and biographical information for the false identification documents. The purchasers would pay for the false identification documents and shipping in BTC.
In 2015, authorities traced fake identification cards found at a bar near the University of Wittenberg from a website Simon had built. Court documents recount that after months of investigation, police were able to link the fake cards to Simon and others who worked with him. Authorities raided Simon’s home in Toledo along with the homes of others involved in the case. They seized over 500 BTC from Simon through confiscation proceedings.
Before this case, Simon was investigated by police in 2008 for false identity, but he was never charged. The coins seized during the investigation were initially valued at around $2.88 million. Authorities did not say how or where the coins were sold.
In foreclosure cases, the proceeds are shared between federal agencies and local police departments involved in the investigation, as well as used to compensate any crime victims. Any remaining funds are returned to the United States Treasury.
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