Sentences with phrase «launder money derived»
The «modern technology services» discussed in the report point to cryptocurrencies and their usage to launder money derived from the illicit trade of firearms, drugs, human trafficking, and other organized crime.
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Shamo, along with other dark web operators Drew Wilson Crandall, Mario Anthony Noble, and Sean Michael Gygi, was found guilty on May 31, 2017 of conspiracy to distribute a controlled substance, aiding the importation of a controlled substance, intentional adulteration of drugs, use of the US mail in drug trafficking, conspiracy to commit money laundering, and engaging in monetary transaction in property derived from specified unlawful activity.
Legitimizing, or «laundering» this money through the financial system, is a critical component for criminals to hide their activities and not draw attention to their illegally derived proceeds.