Following other co-founders of the BitMEX cryptocurrency derivatives exchange, Samuel Reid pleaded guilty to violating the US Bank Secrecy Act and willfully violating KYC and AML rules.
According to a statement from the US Department of Justice, Samuel Reed made the same deal with the investigation that other co-founders of the site, Arthur Hayes and Benjamin Delo, had previously made. Accordingly, the punishment will be the same.
“Reed pleaded guilty to violating the Bank Secrecy Act by deliberately refusing to establish, implement and maintain an anti-money laundering program. Under the terms of the deal, Reid agreed to pay a $10 million fine representing a pecuniary benefit derived from the wrongdoing,” the statement said.
Recall that in October 2020, the US Commodity Futures Trading Commission (CFTC) filed a lawsuit against the co-founders of BitMEX. They were accused of doing business illegally, as well as violating KYC and AML rules. The defendants fled the United States, but later decided to accept the accusations and return to the country. Gregory Dwyer, head of business development at BitMEX, was the last to return to US law enforcement jurisdiction.
Source: Bits
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