February 5, 2023

The court sentenced BitMex's Gregory Dwyer to one year's probation

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The court sentenced BitMex's Gregory Dwyer to one year's probation

The court found BitMex top manager Gregory Dwyer guilty of violating the Bank Secrecy Act and sentenced him to one year of probation.

Gregory Dwyer, who performedacting Head of Business Development at BitMEX, will be allowed to serve his probation outside the United States as he is currently in Bermuda. In August, Dwyer was fined $150,000 after pleading guilty to violating the Bank Secrecy Act.

Recall that at the end of 2020 the FederalNew York prosecutors charged Dwyer, along with three other BitMEX co-founders, with intentional violation of US banking laws and money laundering. Dwyer was considered by the Justice Department to be a key figure in BitMEX who violated customer service rules. According to prosecutors, they used fake identities to circumvent sanctions and launder money.

"The despotic approach of the government to the judiciarythe persecution of Gregory Dwyer is regrettable. Now, Mr. Dwyer is relieved to think that this case is over and looks forward to continuing his professional career and personal life, ”Dwyer’s lawyer commented on the current situation.

As for the former CEOBitMEX Arthur Hayes, who is still an influential figure in the cryptocurrency space, was sentenced to six months of house arrest. In May, Hayes asked the court to reduce his sentence.