American Fined for Failure to Transfer 119.65 BTC
Date: 2025-03-12 Author: Henry Casey Categories: IN WORLD
During the investigation against Reynoso, the FBI discovered a laptop in June 2024 that contained software for the Ledger hardware wallet.
On January 31, 2025, the court issued an order for the forfeiture of 119.65 BTC (approximately $12.6 million at the time). However, instead of complying with the order, Reynoso transferred the funds to five different addresses under his control within 24 hours.
At the trial, he tried to challenge the legality of the forfeiture, arguing that it violated his rights guaranteed by the Fifth Amendment. However, the court found that the arguments were invalid, since the seizure of assets was related to a violation of the law. In addition, the movement of the bitcoins confirmed his access to them, making it impossible to deny the execution of the court order.
Reynoso was arrested right in the courtroom. Now he will have to pay a fine of $10,000 for each day until the 119.65 BTC are transferred to a government-controlled wallet. In case of further evasion, additional sanctions are possible, including imprisonment.
Earlier, ForkLog reported that the US authorities intend to return $8.2 million confiscated from criminals who used the "random number" scheme.
