Indo-Canadian charged with laundering bitcoin valued at $24,020,699.83

NEW YORK: A district court in the US has ordered detention of an Indo-Canadian entrepreneur following indictment on charges of laundering 450 Bitcoin (BTC), valued at $24,020,699.83 at the time of the transaction.

The order for Firoz Patel, 48, came on Wednesday, shortly before he reported to prison in another case in 2021. The two-count indictment, unsealed on May 17, charged Firoz with money laundering and engaging in monetary transactions in property derived from specified unlawful activity. Judge Dabney L. Friedrich of the US District Court of Columbia ordered that Firoz be detained pending trial, a Department of Justice release said. (IANS)

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