Two Bitcoin Launderers Sentenced to Prison in the Netherlands

Two money launderers were sentenced to prison for laundering more than 16 million euros worth of Bitcoin. One received a two year sentence and the other received a two and a half year sentence.

According to an announcement from the Netherlands Public Prosecution Service, a husband and wife from Hilversum anonymously purchased millions of euros worth of Bitcoin in exchange for cash. They hid their trades from tax authorities in the Netherlands.

As a part of the conspiracy, the couple created advertisements offering anonymous Bitcoin exchange services. In addition to various sites on the surface web, the couple created at least one advertisement on a darkweb marketplace. As a result, a significant portion of the traded Bitcoin had links to the darkweb in one way or another.

For in-person exchanges, clients would contact the couple about one of their advertisements and then arrange a time and location for the exchange. According to the announcement, the couple often met their customers at fast food restaurants in large cities. This practice continued for two and a half years. They exchanged more than 16 million euros worth of Bitcoin during that time.

At the Rotterdam District Court, one defendant received a two year prison sentence and the other defendant received a two and a half year prison sentence. The press release does not appear to match the sentences with the defendants.

The couple also forfeited 1,488 and 1,044 Bitcoins each and 250,000 euros together. At the current rate, the forfeited Bitcoins are worth close to 25 million euros.