An illegal encryption operator was sentenced to four years in prison for its operation – in the first criminal ruling in the United Kingdom for unregistered encryption activity.
The Financial Conduct (FCA) said on February 28 / statement.
“This is the first criminal ruling in the United Kingdom for unregistered encryption activity and sends a clear message: those who raise our rules, seek to evade revealing and participating in criminal activity that will face severe consequences,” said the Teres Chambers, the joint executive director of the market for enforcement and supervision of the market at FCA.
On September 10, FCA OSUNKOYA was accused of operating ATMs for encryption devices without registration in 28 sites through his company Gidiplus LTD from December 2021 to March 2022, which treated 2.6 million British pounds ($ 3.14 million).
He later transmitted ATMs from his company, Gidiplus, and operated it personally to 12 instruments under the name of a fake and a company to evade the disclosure. It also failed to ensure that they are not used to launder money.
OSUNKOYA was also the first accused in the UK for operating it on a network of illegal ATMs, and admitted that he was guilty on five charges later on that month on September 30.
source: FCA
Osungoya was also sentenced to forgery to create four banking data to pass a source to verify wealth in an exchange of encryption, using a fake identity to rotate a company under the nickname and owns criminal property – 19540 pounds (24,567 dollars) cash obtained by managing illegal ATMs.
“Your decision to continue to work illegally was a deliberate challenge and an account of the regulatory,” Judge Gregory Perins said in the 46 -year -old Osunguoya in Soutoark, Crown Prince in London.
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Judge Perins added: “Your actions were deliberate and carefully planned.” “It cannot be said that it is just an organizational breach.”
The OSUNKOYA penalty comes after FCA 2023 goods with local police agencies throughout the country to get rid of illegal ATMs.
FCA said it visited 38 sites and lower 30 machines, and the number of coded ATMs announced on Coin ATM Radar from 80 to 2022 to zero this year.
“FCA continues to warn people that if you buy Crypto, you should be ready to lose all of your money,” the organizing party said in its statement. “The encryption is still largely unorganized in the UK and is high risk.”
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