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Bitcoin News: Morgan Rockcoons, A LocalBitcoin Trader from the U.S. Sentenced To 21-Month Jail Term

The United States overseers are constantly taking severe measures against the criminal activities happening in the country since the adoption of Cryptosweep– an operation which began in 2018. The United States Department Of Justice in order to take care of the naïve citizens who are ready to invest in the cryptocurrencies and unknowingly involving themselves in the numerous deceitful schemes presented by the swindlers once again recently marched forward and announced a sentenced against a bitcoin criminal for his fraud and informal trading practices which he operated through an unlicensed money transmitting business on LocalBitcoins without acknowledging the authorities. The announcement came from a United State Attorney office through a press release published on May 28.

Reportedly, Las Vegas, Nevada based 31 years old, Morgan Rockcoons has penalized for 21 months in a prison on May 28, 2019, by U.S. District Judge Anthony J. Battaglia. It is mentioned that the offender was involved in the wire fraud and also responsible for operating an unlicensed money transmitting business in the country. Judge Anthony J. Battaglia along with the sentence also ordered Rockcoons to forfeit $80,600 of profit which he made during his illegitimate activities.

This is not the first time Rockcoons has seen under the web of illicit activities. From 2015, HSI discovered Rockcoons as the highest volume bitcoin seller from San Diego.

As per the information, until the end of 2017, more than a thousand trades he accomplished through P2P Localbitcoin platform with his clever approach and successfully charged approx.… 36% commission per transaction from the customers.

The United States authorities charged him against the act of not registering with the

Financial Crimes Enforcement Network (FinCEN) as a money transmitter with prolific selling and trading activities on the Helsinki, Finland basedP2P platform.

During 2017, being under the watchful eyes of San Diego law enforcement powers Rockcoons was impeached on Nov 8, 2017, for operating an unlicensed and illicit business. Resulting in the indictment he was taken into the detention on February 9, 2018. However, soon he was successfully released on a bond pending trial.

In spring 2018, while on pretrial release, Rockcoons with his daring undertakings did not sit quite instead with his duping gestures he continued his activities and promoted “Bitcointopia” using social media and his website. He promoted a deserted land of Elko County, Nevada as a new real estate development and also proposed the sale of the land in parcels for Bitcoin.

As per the report, Rockcoons claimed:

“The land is currently owned by Bitcointopia, Inc.

Interestingly, the targets who have fallen under his trap and given bitcoin to him allegedly never received their land portions or the land titles. As per the current status, nearly 10 victims have identified by the government forces who got entrapped and paid Bitcoins for the unknown land.

Image by Dessie_Designs from Pixabay

Tags: Morgan Rockcoons, LocalBitcoin, LocalBitcoin Trader, U.S., United Sates, Sentenced, 21-Month Jail, Cryptosweep, Criminal Activities, Bitcoin, BTC, Fraud, Unlicensed Money Transmitting Business, United State Attorney, Morgan Rockcoons, U.S. District Judge Anthony J. Battaglia, Illicit Bitcoin Activities, Financial Crimes Enforcement Network (FinCEN), LocalBitcoins, Indictment, Bitcointopia