Gregory Dwyer, head of business development at the BitMEX derivatives exchange, has agreed to be extradited from Bermuda to the United States on charges of illegal activity.
Last October, the New York Federal Attorney’s Office accused Gregory Dwyer of violating the Bank Secrecy Act, illegal doing business in the United States and not complying with KYC and AML rules. Similar charges were brought against three other BitMEX executives: CEO Arthur Hayes, CTO Samuel Reed, and exchange co-founder Benjamin Delo.
According to the US Department of Justice, they deliberately did not implement the KYC procedure on the exchange in violation of the law, as a result of which BitMEX became a “money laundering platform.” Reed was arrested in Massachusetts the same day and released on $ 5 million bail. Benjamin Delo and Arthur Hayes voluntarily surrendered to the US authorities this spring, later paying $ 20 million and $ 10 million in bail for release from prison, respectively.
According to The Royal Gazette, Dwyer decided to follow the example of his colleagues, agreeing to extradition to the United States from Bermuda. Dwyer’s lawyers said they contacted the US government on his behalf and reported his whereabouts. Dwyer’s defense argues that he is ready to stand trial to defend himself against baseless prosecution charges.
Dwyer’s extradition request has been filed with the Bermuda Magistrates’ Court and is pending. The trial of the former BitMEX executives will take place in New York on March 28, 2022.
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