Crypto-Trader Thomas Costanzo Serving 41 Month Sentence
Owning quite the rap sheet, Thomas Costanzo, a BTC trader from Arizona has just been sentenced on money laundering charges using Bitcoin. The 54-year-old Arizona native was sentenced on the 2nd of August.
Charged & Sentenced
Thomas Costanzo, going by the name Morpheus Titania, has been sentenced to almost three and a half years behind bars on several charges involving money laundering with BTC. He also possesses an impressive record of arrests and charges, including firearms, narcotics and more. Costanzo will serve the remainder of his time based off his arrest last year.
As per reports, a federal task force created with multiple agencies cracked down on Costanzo, a BTC trader operating locally as well as an anarchy blog owner was apprehended and held in custody until his trial due to him posing a highly potential flight risk. The suspect was charged with illegally operating a financial transfer business through his occupation as a BTC trader. According to revealed records, Costanzo oversaw and facilitated more than one hundred trades in a 4-year span.
He was accused and found guilty in light of accepting cash from undercover agents over two years, amounting up to around $165K and one whopping $107K in one transaction exchange to Bitcoin from the undercover agents. According to the reports, Costanzo “promoted” Bitcoin by saying that it would provide a better way of avoiding law officials and authorities. In addition to the trial, it was revealed that Costanzo would purchase illegal narcotics using Bitcoin online and supply others with crypto to purchase these drugs online.
During the sentencing trial, Judge G. Snow also denied him any returns from the claimed Bitcoins. Following the announcement, a segment highlights and states that Judge Snow ruled against 80 BTC handed over by the suspect to the federal agents during their undercover operations as the last phase of a laundering transaction worth $107K and currently, coins seized round up to $600K in value. This arrest is only two weeks after another individual was sentenced to prison for related charges, known as the Bitcoin Maven.