Florida Man Gets Five Years for Illicit Bitcoin Transactions

(CN) -  A Tampa, Florida man was sentenced to 5 1/2 years in prison on Tuesday for helping criminals process illegal bitcoin transactions.

Before the sentencing, U.S. District Judge Alison Nathan rebuked a sobbing Anthony Murgio for using a "pyramid of lies" to further his enterprise.

Murgio pleaded guilty earlier to federal charges earlier this year, as his his father, a former Palm Beach County, Florida school board member.

Prosecutors said Murgio processed more than $10 million in illegal bitcoin transactions from April 2013 through July 2015.

Subscribe to Closing Arguments

Sign up for new weekly newsletter Closing Arguments to get the latest about ongoing trials, major litigation and hot cases and rulings in courthouses around the U.S. and the world.

Email *

Submit