Bitcoin Daily: Gemcoin Founder Pleads Guilty In $147M Fraud Case; Dubliner Forfeits $67.6M In Bitcoin As Part Of Drug Case
PYMNTS
FEBRUARY 20, 2020
Steve Chen, the mastermind behind a $147 million gemcoin fraud from 2013 to 2015, pleaded guilty of his crimes of tax evasion and conspiracy to commit wire fraud, reported on Wednesday (Feb. The 62-year-old California resident will face a minimum of a decade in prison, according to the Department of Justice.
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