Dutch Police Seize Over $30 Million in Bitcoin from Money Launderers
The convicted couple were residents in Holland and both are facing two years in prison following their conviction on money laundering charges.
AUTHORITIES ARE INCREASINGLY TURNING THEIR ATTENTION TO MONEY LAUNDERING VIA CRYPTOCURRENCY.
- A Dutch couple have been convicted on money laundering charges.
- Dutch authorities have seized Bitcoin worth approximately $33 million.
- The news follows a pivot by several regulators to money laundering risks in the crypto industry.
Dutch police have reportedly seized over 2,500 Bitcoin worth approximately $33 million. The seizure follows the conviction of a Dutch couple by the Rotterdam District Court on money laundering charges.
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The Dutch couple had laundered nearly $19 million within the last two years, the Dutch Public Prosecution Service revealed.
According to a press release by OpenBaar Ministerie, the seizure of Bitcoin was not all that was taken from the couple. The Dutch authorities also confiscated cell phones, hard drives and other computer equipment, jewelry, and a vehicle.
In addition, the couple also had a business, where €138,000 and €40,000 have been confiscated. Both relevant companies have been requested to pay a fine of €45,000 each.
The couple were residents of Hilversum, in Holland. It is reported that both individuals bought Bitcoin and traded the cryptocurrency without notifying the tax authorities. In addition, the couple came into contact with customers through a dark web marketplace, where most of the Bitcoin was inevitably traded.
Neither individual reportedly ever asked clients to show identification or carry out KYC, despite some deals being worth millions of euros.