**Crypto ATM Owner Pleads Guilty to Fraud and Money Laundering in UK**

A UK-based crypto ATM operator, Olumide Osunkoya, has pleaded guilty to multiple charges, including fraud and money laundering. Operating without the required Financial Conduct Authority (FCA) registration, Osunkoya ran at least 11 crypto ATMs across the country from December 2021 to September 2023.

- The ATMs processed over £2.6 million (~$3.5 million) in transactions.

- Evidence suggests many users were involved in money laundering or tax evasion.

- Osunkoya allegedly profited significantly, with transaction fees ranging from 10% to 60%.

- He also used a false alias and forged documents to evade regulations.

If convicted on all charges, Osunkoya could face up to 26 years in prison. The FCA has warned that using unregistered crypto ATMs may expose users to criminal activities.