Big-T Autos CEO Tochukwu Edeh has been Indicted For Money Laundering and Investment Fraud by the FBI. According to reports, the Nigerian national was indicted at the federal court in Boston in connection with an allegedly operation using an unlicensed money transmitting business to launder the ill gotten profits of online investment fraud schemes.
Tochukwu Abel Edeh, 31, was indicted on the following
- 1count of money laundering conspiracy
- 1count of conspiracy to conduct an unlicensed money transmitting business
According to the indictment report, Edeh oversees used car dealerships and currency ( money ) transfer services in Texas, Florida and Nigeria. He also runs a trading company as well as a cryptocurrency and e-commerce firm, both of which are based in Nigeria. In the trading company, Bitcoin and other known cryptocurrencies are exchanged for profit.
According to reports if one is charged with a crime of money laundering conspiracy and found guilty a sentence of 20 years in prison, 3 years of supervised release and a fine of $500,000 or twice the value of the funds laundered , While the charge of conspiracy to conduct an unlicensed money transmitting business provides for a sentence of five years in prison, three years of supervised release and a fine of $250,000 or twice the gain or loss, whichever is greater. Sentences are imposed by a federal district court judge based on the U.S. Sentencing Guidelines and other statutory factors.
The details contained in the indictment are allegations. The defendant is presumed innocent unless and until proven guilty beyond a reasonable doubt in a court of law.
Source : https://www.justice.gov/usao-ma/pr/nigerian-national-charged-money-laundering-investment-fraud-conspiracies