US man sentenced to six years in prison and forfeit $1.5 million for unlicensed money transmission business

According to ChainCatcher, American man Trung Nguyen was sentenced to six years in prison and ordered to hand over millions of dollars for operating a no-questions-asked cash-for-Bitcoin service. Boston Federal Court Judge Richard Stearns announced that Nguyen was sentenced to six years in prison, three years of supervised release after serving his sentence, and was ordered to confiscate $1.5 million in property. Prosecutors said Nguyen operated the National Vending unlicensed money transfer business from 2017 to 2020, using the means learned in online courses to evade regulation, disguised as a vending machine company and fabricated a list of fictitious suppliers.