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A Bitcoin trader based in Los Angeles was sentenced to more than two years in prison for the illegal sale of crypto assets.

Theresa Tetley, a 50-year-old US citizen, has earned more than $ 300,000 per year from selling Bitcoin between 2014 and 2017. She operated under the nickname “Bitcoin Maven” and used the Localbitcoins.com platform. In addition to the amount mentioned above, the woman registered earnings ranging from $ 6 million to $ 9.5 million.

Tetley has confirmed allegations of unauthorized money laundering. She was recorded trading 80 BTC worth $ 70,000 in just one transaction, authorities claiming it was drug trafficking revenue.

The woman accused of illegally Bitcoin trading received a 30-month prison sentence, while her lawyer imposed a penalty of less than a year. According to an official report, prosecutors hope to suspend 40 BTC worth $ 270,000, $ 292,264, and 25 gold bars.

According to the document submitted in court, Tetley‘s operations “fueled a black-market financial system in the Central District of California that purposely and deliberately existed outside of the regulated bank industry.

Even if this case appears to be the first of its kind in Southern California, prosecutors have recorded other cases of illegal cryptocurrency trading in different U.S. states. For example, Sal Mansy, a BTC trader based in Detroit was charged for the same unauthorized virtual currency operations and punished in December 2017 with 366 days in jail. The victim also used the Localbitcoins.com platform, managing to earn $ 2.4 million.

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