November 29, 2023

Virgil Griffith denied bail by US court

Virgil Griffith denied bail by US court

A New York judge denied bail to Ethereum Foundation developer Virgil Griffith due tofears that he might leave the country.

December 26 American Court of the Southern DistrictNew York overturned the earlier pledge decision and said that a number of new charges appeared in the case. The prosecution refers to Griffith’s private correspondence with his parents, where he allegedly discussed his plans to renounce US citizenship and create a money laundering company in North Korea.

In addition, according to the assistant prosecutor,Griffith owns a large darknet site and a shell company in Puerto Rico, about which Griffith's lawyer previously provided deliberately conflicting information.

James Margolin, Chief SpecialistThe US Justice Department’s Public Information Office in the Southern District of New York said the developer may appeal the decision at a hearing scheduled for January 9th.

Recall November 29 at the Los Angeles AirportVirgil Griffith was arrested for a trip to North Korea at the Pyongyang blockchain conference. According to authorities, Griffith helped North Korea use blockchain technology and cryptocurrencies to avoid sanctions and money laundering. If convicted, Griffith faces up to 20 years in prison.