BitMEX co-founder, Arthur Hayes, is pleading for leniency as he awaits sentencing, with his lawyers asking for probation with community confinement or home detention, Bloomberg reports.
The former CEO pleaded guilty to violating the Bank Secrecy Act (BSA), including a letter from his mother in the documents sent to the judge who’ll sentence him.
Prosecutors first went after BitMEX in 2020 for violating the BSA and thereby making their exchange a haven for bad actors.
The US Department of Justice claimed that
“As a result of its willful failure to implement [anti-money laundering] and [know-your-customer] programs, BitMEX was in effect a money-laundering platform.”
Beyond prosecuting the company itself, the DOJ also went after its founders, Arthur Hayes, Benjamin Delo, Gregory Dwyer, and Samuel Reed. The company itself chose to settle to $100 million in August 2021.
But Arthur Hayes, Benjamin Delo, and Samuel Redd finally settled in February, with the three admitting that the
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