The developers behind Samourai Wallet pleaded guilty to a single count of conspiracy to operate an unlicensed money‑transmitting business.

The plea deal secures dismissal of the parallel money laundering conspiracy charge and caps potential prison time at five years. It also includes $237 million in forfeiture and a $400,000 fine.

As journalist Matthew Russell Lee reported on July 30, sentencing is set for November 6. Additionally, the defendants agreed not to appeal if the sentence is five years or less, according to Bitcoin Policy Institute’s head of policy, Zack Shapiro.

Plea deal

Lee reported that Judge Jed Rakoff pressed Keonne Rodriguez to state his criminal conduct “in his own words.”

Rodriguez told the court that his role at the firm meant that he was aware users were using the wallet “to launder criminals’ money.” Prosecutors argued that the knowledge alone is sufficient for a 60 month sentence even if they were not involved in the laundering.

Shapiro noted that had both counts gone to verdict, combined federal guidelines would have pointed to 160 to 210 months. By pleading to the unlicensed transmission conspiracy under 18 U.S.C. § 1960, the developers face a statutory maximum of five years rather than a potential decade-plus exposure.

Defense‑side reaction framed the outcome as a pragmatic hedge rather than a legal endorsement of the US Department of Justice’s (DOJ) theory.

Amanda Tuminelli, executive director and CLO at the DeFi Education Fund argued that the DOJ “misinterprets Section 1960 whenever they accuse a non‑custodial software dev of ‘transferring funds on behalf of the public,’”

Tuminelli added that the pleas don’t change the policy fight over how the law should apply to open‑source wallet software. She said:

“Plea deals are risk calculations.”

Case background

US and international authorities shuttered Samourai on April 24, seizing its domain and web infrastructure in collaboration with the Icelandic and Portuguese police, the IRS, the FBI, and Europol.

The authorities also issued a warrant that removed the Android app from Google Play for US users.

Prosecutors alleged founders Keonne Rodriguez and William Lonergan Hill ran a mixing service through Samourai that processed more than $2 billion in Bitcoin tied to illicit activity, including $100 million linked to dark‑web markets. 

The app, one of the best‑known privacy‑focused Bitcoin wallets, had been downloaded over 100,000 times.

Mentioned in this article

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

A federal prosecutor in California has charged two Los Angeles County Sheriff’s Department deputies with conspiring to violate people’s civil rights. One of the deputies has already pleaded guilty. Their actions are tied to a crypto entrepreneur known as “The Godfather,” who ran a trading platform called Zort.

Rodriguez Ran A Warrant Scheme: Court Documents

Rodriguez, 43, admitted that he teamed up with 24‑year‑old Adam Iza to push illegal business. He used his badge to secure a court‑authorized search warrant in July 2022 by telling a judge it was needed for a robbery probe.

That turn of events let him act outside the law. Based on reports, Rodriguez also helped another private security client—unrelated to Iza—with shady favors.

Deputy Rodriguez faces up to 10 years behind bars. He said he took cash and crypto payments. The US Attorney’s Office noted he used his office to carry out work that had no place in law enforcement.

One Los Angeles County sheriff’s deputy charged, another deputy pleads guilty to conspiring to violate civil rights while providing off-duty security for clients https://t.co/qIK0bzZOm6

— US Attorney L.A. (@USAO_LosAngeles) July 14, 2025

Saavedra’s Tracking And Harassment

The same filings show Rodriguez worked alongside Deputy Eric Chase Saavedra. Saavedra used GPS data obtained by Rodriguez to follow a victim. He then threatened and intimidated that person.

Saavedra is free on a $50,000 bond and is set to face a hearing on November 10. He remains under active investigation by the DOJ.

BTCUSD trading at $116,134 on the 24-hour chart: TradingView

Armed Intimidation At Bel Air Mansion

A second deputy, Christopher Michael Cadman, 33, also pleaded guilty. He pulled over a car in Paramount, staged a fake traffic stop, and held a victim at gunpoint outside Iza’s Bel Air home.

The pair forced him to send $25,000 to Iza. Cadman then filed false tax returns in 2022 claiming only $40,500 in income. In fact, he owed $11,000 for the 2021 tax year.

Image: Digital Watch Observatory

Those moves carried large risks. Cadman faces years in prison for armed robbery and tax fraud. His plea deal requires him to cooperate with prosecutors on related cases.

Crypto Payments And Tax Evasion

Prosecutors say Iza’s firm sent roughly $154,900 in payments to at least one officer. Court filings accuse Iza of posing as an FBI agent to seize digital assets by force. Victims include an unnamed man and his girlfriend.

Investigators also allege Iza used shell companies to hide about $1.7 million from the IRS between 2020 and 2022. Iza agreed to a deal with the DOJ in January. He faces charges for tax evasion, conspiracy against rights, and wire fraud.

A hearing is set for December 15. His ex‑girlfriend, Iris Ramaya Au, was charged in March with hiding his income. She could go to prison for three years over her part in what prosecutors call a $2.6 million criminal operation that funded more than $10 million in luxury trips.

Featured image from Getty Images, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.

The U.S. Department of Justice (DOJ) is charging a dozen new defendants under the RICO Act for allegedly taking part in a multimillion-dollar crypto theft.

In a new press release, the DOJ says that it is charging an additional 12 defendants for allegedly participating in a crypto racketeering conspiracy that netted $263 million, bringing the total number of those accused to 14.

While the majority of them have been arrested, two of them remain at large and are suspected to be in Dubai. They are all charged with RICO conspiracy, conspiracy to commit wire fraud, money laundering, and obstruction of justice.

Last September, two California men – Malone Lam and Jeandiel Serrano – were arrested and charged in connection with the plot. Authorities say the men stole 4,100 Bitcoin (BTC) worth about $230 million at the time from an unnamed Washington, D.C., victim and then attempted to obfuscate and launder the funds using advanced techniques.

According to the press release, the duo was not alone and had a team behind them composed of hackers, organizers, money launderers, callers, and residential burglars that targeted hard wallets, who met through online gaming platforms and were in operation since October 2023.

The indictment reveals that the defendants used the stolen funds to purchase expensive luxury items, such as homes, cars, handbags, watches, jewelry, nights out at nightclubs ranging up to $500,000 per evening, as well as private security guards and private jets for members of the enterprise.

If found guilty, the defendants would be handed a sentence determined by the court based on sentencing guidelines.

Follow us on X, Facebook and Telegram

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

Prosecutors have handed out prison time for eight individuals involved in a wide-ranging conspiracy of wire, bank and mail fraud.

In a press release, the US Attorney’s Office for the Middle District of Alabama says that Hunter Hudson, Jr., and seven other people have been sentenced to prison in an elaborate bank fraud scheme that caused an intended loss amount of more than $1.5 million.

The group, which referred to itself in a group chat as the “Fraud Academy,” stole checks, altered them and then deposited them into fraudulent bank accounts, according to prosecutors.

The US Postal Service aided in the investigation, according to the press release.

Says Timothy J. O’Malley, Acting Special Agent in Charge with the Federal Bureau of Investigation (FBI),

“Any attempt to exploit our postal or banking systems is a serious violation of the public’s trust. These actions will not be tolerated and will be prosecuted to the fullest extent of the law. Protecting the integrity of our postal and financial systems is essential and non-negotiable.”

25-year-old Hunter Hudson, the ringleader of the operation, was arrested in May of last year. Local news outlet Fox 13 reported that his rap lyrics gave the investigators material for their probe.

Captain Eric Hill with the Venice Police Department in Florida said that Hudson “drove around throughout the whole region of the United States and he would steal mail.”

“He would wash those checks or use the account information on those checks to then make fraudulent deposits into other individuals’ accounts who would agree to be part of this scam with them.”

Hudson was sentenced to 92 months in prison and was ordered to pay $987,883.50 in restitution and to forfeit $91,020.41.

Follow us on X, Facebook and Telegram

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

Instead, only gold bar photos and a declaration of victory make money safe. Let me really think about it.

For decades, conspiracy theory has swirled around money deposits. This is the most plausible.

Where is the money? Is there money at Fort Knox?

(sauce))

Recently, Germany has been considering calling homes for large gold holders parked in New York and Fort Knox, driven by fears over Trump’s tariff strategy.

With 3,350 tons of gold secured worldwide, Germany is gold-grade, second only to the US, and is located above the unparalleled 8,100 tons. If economic uncertainty continues to rise around the world, we know if gold is really there.

Some Germans are worried about the money stored in the US
– After the EU legalized theft of sovereign funds, it set a dangerous precedent for such confiscation https://t.co/redctq2ivb pic.twitter.com/hsc3l9t7cf

-Glenn this (@glenn_diesen) April 5, 2025

The only gold bug that this burns is someone who accepts a certificate of gold over real gold, despite the consistent pattern in which certificate sellers become greedy and sell more promissory notes than they respect.

If this is true, then gold is generally thrown away.

Next, physical scrambling sends demand and prices from the roof.

Fort Knox Gold Reserve: Can we audit our money?

Built as an American gold fortress in the 1930s, Fort Knox holds 147.3 million ounces, 59% of the Treasury supply. Answer to pre-World War II jitter, it is a concrete and steel mystery. Roosevelt in 1943, Congress in 1974, and Stephen Munuchin in 2017 only opened three times.

The rest is shadows and speculation, reinforced by its closed doors.

(sauce))

The problem with using gold as currency is that it is heavy and complicates the logistics of what drives money. Therefore, the Silk Road was not digital and had so many bandits. If you want to make trading easier, create a Type 2 or Link Currency. That’s Gold Standard.

However, the biggest problem is that when you pass on a banknote, more sounds will flow than the bank’s money. If everyone tried to redeem at the same time, there would be literally a lot of people carrying bags.

This was in the US state of the 70s.

The Fed hopes Trump will not audit Fort Knox for that particular reason.

If it becomes clear that the entire gold market is smoke and mirror, this opens the door to alternatives like Bitcoin and other cryptocurrencies.

In case of transparency

Audits and assurances are tossed like confetti, but public confidence in Fort Knox remains weak.

The Treasury swears that all the money is explained, but critics haven’t dropped the issue. Officially, Knox’s Gold Cash is $6 billion thanks to its almost mystical rating of $42.22 per ounce. But it’s a real factor, and it should be close to $436 billion. That ditch is a rift poured out by rumors of a plot.

Discover: Best Meme Coins to Invest in April 2025 ICOS

For the latest market updates, please join us in the discrepancy in 99bitcoins news here

What happened to the post Fort Knox Gold Reserve? Inside the biggest economic conspiracy that first appeared in 99 Bitcoin.

A Bank of America insider is pleading guilty to boosting a global money laundering conspiracy that aided drug traffickers and other illegal businesses, according to the U.S. Department of Justice (DOJ).

The DOJ says former Bank of America employee Rongjian Li was a member of a money laundering and drug trafficking outfit headed by Jin Hua Zhang.

According to prosecutors, Li used his position at the bank from 2021 through 2022 to help the criminal organization open several accounts.

Zhang’s organization then used the BofA accounts, some of which were registered using forged passports, to launder illicit funds.

“As part of his involvement, when the bank’s financial auditing systems flagged or froze accounts for suspicious activity, Li helped Zhang circumvent the bank’s anti-money laundering protocols and move illicit funds elsewhere.

In addition, Li was observed sitting next to Zhang at a dinner in New York, where Zhang discussed the different fee percentages he charged various criminal groups for drug trafficking and scams.”

Zhang’s organization is believed to have laundered millions of dollars in a span of months, according to the DOJ.

“The investigation revealed that, for a fee, Zhang laundered bulk cash for drug dealers and laundered profits from other illegal businesses. In less than a year, Zhang and his organization laundered at least $25 million worth of drug proceeds and funds from other illegal businesses through undercover agents.”

Li has pleaded guilty to the charge of conspiracy to commit money laundering. He faces a monetary fine and a prison sentence.

“The charge of money laundering conspiracy provides for a sentence of up to 20 years in prison, up to three years of supervised release and a fine of up to $500,000, or twice the amount involved, whichever is greater.”

Follow us on X, Facebook and Telegram

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney