Index > Authors> ChinaWire> Daily Mandarin - Money Laundering

Daily Mandarin - Money Laundering

Tap "ChinaWire" !

洗錢 - Xǐqián - money laundering

Bitcoin Trader From Arizona Charged With Money Laundering Scheme and Illegal Possession of Firearms

source: cointelegraph.com

On April 2017 Bitcoin trader Thomas Costanzo was charged for money laundering and running an unlicensed money transmission business.


Costanzo was discovered to have been running a Bitcoin trading website that offers Bitcoin mining equipment. Back in April, Costanzo was convicted of illegal possession of firearms as well as marijuana. An investigation and a raid by the Federal Court resulted in the seizing of illegal drugs that he possessed, financial documents, Bitcoin transactions, and gadgets.


Bitcoin trading gone wrong


Costanzo was able to make a good reputation for himself in the Bitcoin market for a year with many customers giving him good reviews. As a trader, he is known as Morpheus with over 100 Bitcoin trading transactions.


 Court records show another individual Dr. Peter Steinmetz, a Bitcoin proponent, being accused of operating an illegal money laundering business and illegal digital currency exchange, without a license with Costanzo.


Dr. Steinmetz pleaded not guilty on those two accounts and was eventually released, Phoenix News Times reports. 


Releasing a statement on the allegations, Dr. Peter Steinmetz’s legal representative, Brian E. Klein of Baker Marquart,LLP, sent the following to Cointelegraph:          

“Dr. Peter Steinmetz is a highly respected scientist and a visionary. He plans to vigorously defend himself against the charges, and he is confident that when all the facts are known, he will be vindicated.”


Alleged connection

The alleged connection between the two suspects was identified through a Youtube video that Costanzo uploaded featuring Steinmetz explaining what Bitcoin technology is all about.


 Costanzo was discovered to be in possession of firearms and bullets during a raid of his house by the feds in April 2017.


 On a different occasion, Dr. Steinmetz, was caught carrying a gun while he was at Sky Harbor’s Terminal Four airport, which he claimed, was for a pro-gun demonstration, ABC15 Arizona reports.


The jury trial is set for both of the defendants on August 1, 2017.

Check out www.echinawire.com for more content!

You can click the READ MORE button to study survival mandarin


Subscribe by scanning below QR codes to get started.

A convenient way for foreigners and Chinese to buy real foreign imported products while living in China. Stay with ShopWire as we expand our products range. You can use either WeChat wallet or PayPal to purchase our products! 


ChinaWire is the largest English WeChat Official account in China with over 150k subscribers. We post articles related to china and around the world as well as a survival mandarin section to help foreigners improve their Chinese skills.


WorldWire is a diversified account which mainly publishes breaking world news, entertainment, lifestyle, culinary and sports news from around the world.


Shop在線 is the Chinese version of ShopWire mainly for Chinese Customers. You can also use it if you are a foreigner with great chinese skills or introduce it to your Chinese friends. We guarantee only real imported products are sold on our shop.