Blockchain News Feed

All the latest news on Blockchain & Cryptocurrencies

Menu
  • Home
  • News
  • Exchanges
  • Market Analysis
  • YouTube
  • Brave Browser
Menu

Duo Indicted for Selling Spurious “Xanax” on Dark Web in Exchange for Bitcoin

Posted on juni 29, 2018 by Blockchain News

Two men were indicted by a federal grand jury on the charges of illegally manufacturing and distributing alprazolam tablets, which are commonly known as Xanax, in exchange for payment through bitcoin. The duo, Ryan Farace, age 34, of Reisterstown, Maryland, and Robert Swain, age 34, of Freeland, Maryland were also accused of laundering the drug proceeds through cryptocurrency, as it would help conceal their ownership of Ill-gotten gains.

Bitcoin Still Widely Used on the Darknet

The case was a part of a one-year covert mission called Operation Dark Gold. The sting operation included some of the most important security agencies in the United States.

These included high-ranking government agencies including the Money Laundering and Asset Recovery Section of the Department of Justice’s Criminal Division, the United States Postal Inspection Service, Department of Homeland Security, the Drug Enforcement Administration, 51 United States Attorney’s Offices and the United States Secret Service.

The indictment was pronounced by a jury which comprised sheriffs, representatives from Homeland Security Investigations, Immigration, and Customs Enforcement, among others, and was heard by the United States Attorney for the District of Maryland Robert K. Hur.

According to the testimony, between November 2013 and June 2017, accused wrongdoer Farace had purchased equipment meant for manufacturing narcotics, including spurious ‘Xanax’ pill molds and pill presses. He also pressed available raw material or the powder into tablet mold, which would then resemble legitimate Xanax pills. Farace then allegedly sold these ‘pills’ on the darknet in exchange for bitcoin. To maintain secrecy, all communication with probable buyers was done through encrypted messages and shipped the orders through the US Postal Service.

Cryptocurrency Worth $17 Million Seized

The testimony also revealed that packages were paid using prepaid debit cards duplicated using other people’s identities. Farace possessed nearly enough raw materials to distribute 6,900 alprazolam pills and distributed the same during the time period May 10, 2016, and January 31, 2017.

To cover up their tracks, the duo laundered the proceeds from the illicit drug sale by creating financial transactions that hid the nature, ownership, and control of the proceeds. So far, the law enforcement agencies have seized assets, from the indicted duo and others who helped them. The confiscated assets are valued at over $22 million, of which bitcoin and cryptocurrencies account for $17 million.

However, if the duo is prosecuted before a court, if found guilty the government may see it fit to forfeit $5,665,000, as well as 4,000 Bitcoin. The amount is believed to be the profits made from the illegal drug sales, residences, and vehicles used to facilitate the drug distribution. Basically, the state may confiscate everything that the duo owned to carry out this grand-scale larceny.

Is Bitcoin still the primary transaction vehicle in the dark web? Let us know your views in the comments section.

The post Duo Indicted for Selling Spurious “Xanax” on Dark Web in Exchange for Bitcoin appeared first on BTCMANAGER.


Source: BTCManager.com
Original Post: Duo Indicted for Selling Spurious “Xanax” on Dark Web in Exchange for Bitcoin

Ledger Nano X - The secure hardware wallet

Recente berichten

  • HAPPENING NOW!! Crucial Moment | Solana Price Prediction
  • XRP price rally stalls near key level that last time triggered a 65% crash
  • The Future Is Apparently NOW + HUGE VeChain News & Could This ACTUALLY Work?
  • Bill Imposing Fines for Illegal Issuance and Exchange of Digital Assets Proposed in Russia
  • Solana smartphone Saga triggers mixed reactions from crypto community

Categorieën

  • Altcoin Buzz
  • Altcoin Buzz News
  • AMBcrypto
  • Bitcoin.com
  • Bitcoinist
  • BTC Manager
  • CCN
  • Coin Mastery
  • Coindesk
  • Coinpower News
  • Cointelegraph
  • CryproSlate
  • Crypto Daily
  • Crypto News (.net)
  • Cryptocoin News
  • Cryptocurrency News
  • CryptoDaily.co.uk
  • CryptoPotato
  • CryptosRUs
  • Daily HODL
  • DataDash
  • Ethereum Worldnews
  • Exchanges
  • ICO's
  • Invest in Blockchain
  • Market Analysis
  • News
  • News BTC
  • Newsbit
  • Portfolio
  • Pricecheck
  • Ready Set Crypto
  • The Modern Investor
  • ToshiTimes
  • Use The Bitcoin

Archieven

  • juni 2022
  • mei 2022
  • april 2022
  • maart 2022
  • februari 2022
  • januari 2022
  • december 2021
  • november 2021
  • oktober 2021
  • september 2021
  • augustus 2021
  • juli 2021
  • juni 2021
  • mei 2021
  • april 2021
  • maart 2021
  • februari 2021
  • januari 2021
  • december 2020
  • november 2020
  • oktober 2020
  • september 2020
  • augustus 2020
  • juli 2020
  • juni 2020
  • mei 2020
  • april 2020
  • maart 2020
  • februari 2020
  • januari 2020
  • december 2019
  • november 2019
  • oktober 2019
  • september 2019
  • augustus 2019
  • juli 2019
  • juni 2019
  • mei 2019
  • april 2019
  • maart 2019
  • februari 2019
  • januari 2019
  • december 2018
  • november 2018
  • oktober 2018
  • september 2018
  • augustus 2018
  • juli 2018
  • juni 2018
  • mei 2018
  • april 2018
  • maart 2018
  • februari 2018
  • januari 2018
  • december 2017
  • november 2017
  • oktober 2017
  • september 2017
  • maart 2017
  • juni 2016
  • juli 2014
  • september 2013
  • augustus 2013
©2022 Blockchain News Feed | Design: Newspaperly WordPress Theme