According to TechFlow, Ohio resident Larry Dean Harmon was sentenced to three years in federal prison for operating the darknet cryptocurrency mixing service Helix. From 2014 to 2017, Helix laundered more than 354,000 bitcoins worth about $311 million.
Harmon pleaded guilty in 2021 and will face three years of supervised release and a $311 million fine in addition to his prison sentence. Law enforcement seized his assets, with a total value of more than $400 million.
The U.S. Financial Crimes Enforcement Network imposed a $60 million civil penalty on Harmon. The investigation showed that Harmon deliberately circumvented (Bank Secrecy Act) obligations and made Helix an illegal trading platform. This Helix has nothing to do with the DeFi platform Helix.
