According to Odaily Planet Daily, Artur Schaback, co-founder and former technical CEO of Paxful, pleaded guilty on Monday for failing to maintain an effective anti-money laundering (AML) program at the cryptocurrency exchange and faces up to five years in prison. The U.S. Department of Justice said Schaback will be sentenced on November 4 and will resign from the Paxful board of directors. A plea agreement filed in a California district court showed that government prosecutors agreed to fine Schaback $5 million, which he will repay in three installments, $1 million on the date of his guilty plea, $3 million on the date of sentencing, and the last $1 million within the next two years.