Key Takeaways:
- The DOJ has charged Maximiliano Pilipis, operator of AurumXchange, with money laundering and federal offenses tied to the Silk Road darknet marketplace.
- AurumXchange allegedly processed over $30 million across 100,000 transactions without proper licensing or compliance with AML, CTF, and KYC regulations.
- Additional charges include tax evasion and efforts to obscure proceeds from illegal activities, with possible penalties of up to 10 years in prison and fines.
The U.S. Department of Justice (DOJ) has charged Maximiliano Pilipis, operator of crypto exchange AurumXchange, with money laundering and other federal offenses tied to the Silk Road darknet marketplace.
The DOJ alleges that AurumXchange, under Pilipis’ leadership, processed over $30 million across 100,000 transactions, including funds tied to Silk Road accounts.
đź“°UPDATE: U.S. AUTHORITIES CHARGE AURUMXCHANGE OWNER, MAXIMILIANO PILIPIS, FOR ALLEGEDLY FUNNELING FUNDS TIED TO SILK ROAD MARKETPLACE
— BSCN Headlines (@BSCNheadlines) October 29, 2024
Silk Road, created by Ross Ulbricht (alias “Dread Pirate Roberts”), was known for anonymous transactions, often involving illicit goods, and operated until the FBI shut it down in 2013.
Pilipis is accused of operating AurumXchange without a financial license and neglecting federal registration, reporting, and Anti-Money Laundering (AML) protocols.
SILK ROAD MONEY LAUNDERING BUST?
— Mario Nawfal’s Roundtable (@RoundtableSpace) October 29, 2024
Maximiliano Pilipis, former operator of AurumXchange, just got hit with charges for running an unlicensed crypto exchange and laundering Silk Road BTC.
His platform moved $30M+ in transactions back in the day, grabbing over 10,000 BTC in fees,… pic.twitter.com/5sj11GA5uz
Authorities further allege that Pilipis concealed illicit proceeds by transferring assets, including Bitcoin, into U.S. dollars, which he used for real estate investments in Indiana.
Additional charges include tax evasion for income in 2019 and 2020.
If convicted, Pilipis could face up to 10 years in prison and fines up to $250,000, though final sentencing will depend on federal guidelines.
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Efe Bravo, a seasoned journalist, delivers compelling insights into the cryptocurrency and blockchain industry.
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