Dark Web Money Laundering: Netherlands Couple Got Convicted


Netherland’s The Rotterdam District Court had convicted a couple on account of dark web money laundering. The court was successful in seizing 2532 Bitcoins that roughly accounts to $29 million from the Dutch couple who belonged from Hilversum.

The married couple had been sentenced to two years (24 months) and two and a half years (30 months) respectively in prison for conducting dark web money laundering. Both of the suspects had received individual fines of €45,000 ($53,137) and then were pushed to forfeit €138,000 ($162,955) and $40,000.

The Dutch Public Prosecution Service had prosecuted the two suspects on the grounds of dark web money laundering of over €16 million ($18.9 million) in just two and a half years following their establishment of the source of a massive amount of Bitcoin (BTC) that were there with them and came from dubious darknet transactions.

“The Hilversum traders bought bitcoins for millions of euros in cash from private individuals and companies. The bitcoin trade was not known to the tax authorities”, the court stated.

The court statement mentions how two different sums of 1044 BTC and 1488 BTC had been seized from the suspects along with €250,000 ($295,256) in cash. The court had also added to this that the accused couple had purchased the cryptocurrency intending to exchange vast sums of Euro in money from both the companies and the private individuals. However, these transactions had been kept secret from the Dutch authorities. The transactions were carried out using specific methods that would maintain the anonymity of their clients.

“The merchants did not ask customers for identity papers, while large amounts were often exchanged. The suspects, a man and his wife, came into contact with customers through advertisements on the Internet and a marketplace on the dark web. Much of the bitcoins traded bore traces of the dark web”, the paper narrated.

The court had also clearly mentioned that the exchanges that the accused couple did were usually in certain fast-food restaurants within a big city without any KYC processes.

The court had ruled that the Bitcoin that had been seized from the couple were widely used in the dark web activities like hitman-for-hire, child pornography (CP) etc.

Source: Coinlist

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