Last April, Bitcoin trader Thomas Constanzo was charged for money laundering and running an unlicensed money transmission business.
Constanzo was discovered to have been running a Bitcoin trading website that offers Bitcoin mining equipment. Back in April, Constanzo was convicted of illegal possession of firearms as well as marijuana. A thorough investigation and a raid by the Federal court resulted in the seizing of illegal drugs that he possessed, financial documents, Bitcoin transactions, and gadgets.
Need for vigilance
Constanzo was able to make a good reputation for himself in the Bitcoin market for a year with many customers giving him good reviews. As a trader, he is known as Morpheus with over 100 Bitcoin trading transactions.
Along with him is Peter Steinmetz who conspired with Constanzo on counts of operating an illegal money laundering business and illegal digital currency exchange without a license. According to police records, Steinmetz pleaded not guilty on those two accounts and was eventually released.
Connection between Steinmetz and Constanzo
The connection between the two was identified through a Youtube video that Constanzo uploaded featuring Steinmetz explaining what Bitcoin technology is all about.
Both of them got caught with illegal possession of firearms. Constanzo was discovered to be in possession of firearms and bullets during a raid of his house by the feds last April. Steinmetz, on the other hand, was caught holding a gun while he was at Sky Harbor’s Terminal Four airport, which he claimed, was for a pro-gun demonstration.
The jury trial is set for both of the defendants on August 1, 2017.