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IRS lists 4 crypto crimes amongst its prime circumstances in 2023

The felony investigation unit of the US Inside Income Service (IRS) has listed 4 crypto-related circumstances among the many prime ten of its “most distinguished and high-profile investigations” in 2023.

In a Dec. 11 discover, the IRS unit said there have been 4 important circumstances in 2023 involving the seizure of cryptocurrency, fraudulent practices, cash laundering and different schemes. Coming in at its third most high-profile investigation up to now yr was OneCoin co-founder Karl Sebastian Greenwood, who was sentenced to 20 years in prison in September for his function in advertising and marketing and promoting a fraudulent crypto asset.

Different circumstances included Ian Freeman, a New Hampshire resident sentenced to eight years in jail for working a cash laundering scheme utilizing Bitcoin (BTC) kiosks and failing to pay taxes from 2016 to 2019. The federal government physique was additionally behind an investigation of Oyster Protocol founder Amir Elmaani, also referred to as “Bruno Block,” for tax evasion associated to minting and promoting Pearl tokens.

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One of many oldest felony circumstances that made the IRS listing was the story of James Zhong, a person charged with stealing BTC from the Silk Highway market in 2012. Zhong managed to hide his function within the crime for roughly ten years earlier than authorities raided his home in November 2021, discovering the majority of the crypto — value greater than $3 billion on the time — in a ground secure and a pc hid in a popcorn tin.

In its annual report launched on Dec. 4, the IRS felony investigation unit mentioned it had initiated more than 2,676 cases within the 2023 fiscal yr, which included greater than $37 billion associated to tax and monetary crimes. The federal government division has seized more than $10 billion in cryptocurrency since 2015.

Journal: $3.4B of Bitcoin in a popcorn tin: The Silk Road hacker’s story