The bitcoin seller defrauded customers 'by not providing them with the agreed-upon bitcoin after taking their money.' crypto cryptocurrency
A bitcoin seller has been sentenced to one year and one day in jail for defrauding customers, according to a notice by the U.S. Department of Justice . The man took money from customers but did not provide them with the agreed-upon bitcoin.The U.S. Department of Justice announced last week that Michael Yusko has been sentenced to one year and one day in prison “for defrauding customers through unlicensed bitcoin business.
According to the Justice Department, customers subsequently complained about their bitcoin purchases, stating: In addition, the New Orleans resident did not register his company as a money transmitting business with the Financial Crimes Enforcement Network of the Department of Treasury, the DOJ added, elaborating: