American man sentenced to six years in prison and forfeits $1.5 million for unlicensed money transfer business

According to ChainCatcher, American man Trung Nguyen was sentenced to six years in prison for operating an unlicensed cash-to-Bitcoin exchange service and was ordered to forfeit millions of dollars. Boston Federal Court Judge Richard Stearns announced that Nguyen was sentenced to six years in prison, followed by three years of supervised release, and was ordered to forfeit $1.5 million in assets. Prosecutors stated that Nguyen operated an unlicensed money transfer business called National Vending from 2017 to 2020, using techniques learned from online courses to evade regulation, posing as a vending machine company and fabricating a list of fictitious suppliers.