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Bitcoin Exchange Operator Faces 40 Years in Jail for Lying to SEC

Smart contracts - bitcoin - blockchainBloomberg Law is reporting that a virtual currency operator accused of running off with investor funds after a 2013 hack and lying to investigators has accepted a plea deal with federal prosecutors in New York.

Reporter Lydia Beyoud writes that Jon E. Montroll of Saginaw, Texas, faces up to 40 years in prison.

Manhattan U.S. Attorney Geoffrey S. Berman said in a July 23 statement accompanying the plea agreement that Montroll “repeatedly lied during sworn testimony and misled SEC staff to avoid taking responsibility for the loss of thousands of his customers’ bitcoins,” in 2013, Berman said.

Read the Bloomberg Law article.

 

 

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