Money laundering ‘Bitcoin Maven’ to be incarcerated for 12 months

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Money laundering ‘Bitcoin Maven’ to be incarcerated for 12 months

Theresa Tetley, a California woman who became known as the “Bitcoin Maven,” has been sentenced after she pleaded guilty to money laundering and running an unlicensed money-transmitting business.

Tetley was sentenced to 12-months incarceration, which, per her attorney is a “dramatic departure” from the 30 months sought by prosecutors.

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The Maven, a former stockbroker, was arrested back in March 2017 in a DEA sting for exchanging as much as $9.5 million in U.S. dollars into Bitcoin in an operation that found her going to restaurants and coffee shops with envelopes stuffed full of cash for her clients.

In addition to the sentence, Tetley was slapped with a $20,000 fine and gave up just over a quarter million in cash, 25 solid-gold bars, and 40 BTC, worth just about $1 million in U.S. currency.


Via LA Times


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