Former BitMEX CEO Arthur Hayes has filed a petition with the court for a sentence of probation, no custody or house arrest.
According to message Bloomberg, lawyers for Arthur Hayes have filed a petition with a Manhattan federal judge seeking leniency for their client, including probation without house arrest or detention.
As justification, lawyers point to Hayes signing a plea agreement, which automatically entails a reduction in prison sentence from 6 to 12 months. The lawyers also draw the attention of the federal judge that Hayes is remorseful and is unlikely to be a repeat offender.
Recall that BitMEX co-founders Arthur Hayes, Benjamin Delo and Samuel Reed were accused by the US Commodity Futures Trading Commission (CFTC) of non-compliance with anti-money laundering (AML) measures, violating the customer identification procedure (KYC) , illegal conduct of business in the United States and willful violation of the Bank Secrecy Act.
Following lawsuits, the co-founders resigned from their positions at BitMEX, and the exchange paid the CFTC and the Financial Crime Enforcement Network (FinCEN) about $100 million in damages. In addition, the co-founders pleaded guilty to the charges against them and agreed to pay a $10 fine. million each.
Source: Bits
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