Technology and gaming content trusted in North America and globally since 1999
8,619 Reviews & Articles | 61,073 News Posts

DOJ charge Ohio man who laundered over $300 million through Bitcoin

Ohio man arrested for operating crypto laundering service, which moved $300 million

Anthony Garreffa | Feb 13, 2020 at 10:28 pm CST (1 min, 5 secs time to read)

Larry Dean Harmon of Akron, Ohio has been arrested for operating a cryptocurrency laundering service, where he moved a hefty $300 million through Bitcoin in a "tumbling" operation.

DOJ charge Ohio man who laundered over $300 million through Bitcoin | TweakTown.com

Harmon partnered with underground marketplace AlphaBay on an operation called Helix, which was known for its illegal activity that included drug deals (and I'm sure much more) according to the Department of Justice. Harmon exchanged over 350,000 bitcoins on Helix between the years 2014-2017, with the act of "tumbling" seeing people turn their cryptocurrency transactions to hide them from illegal activities like drugs, guns, and much more evil activities.

Don Fort, chief of the IRS Criminal Investigations division said in a statement: "The brazenness with which Helix operated should be the most appalling aspect of this operation to every day citizens. There are bad actors and then there are criminals who facilitate hundreds of other crimes. The sole purpose of Harmon's operation was to conceal criminal transactions from law enforcement on the Darknet, and because of our growing expertise in this area, he could not make good on that promise".

Harmon has been charged with money laundering conspiracy, operating an unlicensed money transmitting business, and conducting money transmission without a DC license.

Last updated: Apr 6, 2020 at 04:35 pm CDT

Buy at Amazon

The Bitcoin Standard: The Decentralized Alternative to Central Banking

TodayYesterday7 days ago30 days ago
Buy at Amazon
$21.99$21.99$21.99
* Prices last scanned on 6/3/2020 at 6:53 am CDT - prices may not be accurate, click links above for the latest price. We may earn an affiliate commission.
Anthony Garreffa

ABOUT THE AUTHOR - Anthony Garreffa

Anthony is a long time PC enthusiast with a passion of hate for games built around consoles. FPS gaming since the pre-Quake days, where you were insulted if you used a mouse to aim, he has been addicted to gaming and hardware ever since. Working in IT retail for 10 years gave him great experience with custom-built PCs. His addiction to GPU tech is unwavering.

Related Tags