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New Jersey Pastor Accepted Bribes of $150000 in Bitcoin Scheme - Newsweek

Published 1 year ago

New Jersey Pastor Accepted Bribes of $150000 in Bitcoin Scheme - Newsweek

Financial Newsweek via newsweek.com

A New Jersey pastor was found guilty of pocketing $150,000 from shady bitcoin traders in exchange for giving them control of a credit union he headed so they could run it as a front for their bitcoin exchange. The pastor, Trevón Gross, was found guilty along with programmer Yuri Lebedev by a Manhattan federal court jury on Friday. Anthony Murgio, the founder of the exchange, Coin.mx, pleaded guilty in January. Keep up with this story and more by subscribing now In 2013, Murgio founded Coin.mx and Lebedev helped run it. The exchange operated through a phony front company called Collectables Club in order to fool banks into thinking illegal bitcoin transactions were legitimate sales of stamps and sports memorabilia. By posing as a site for philatelists and sports nerds and by miscoding credit and debit card transactions, the pair tricked banks into processing more than $10 million in bitcoin-related deals, according to prosecutors. “When the banks caught on to their scheme,” acting Manhattan U.S. Attorney Joon Kim said in a statement, “Lebedev and others bribed Trevón Gross so they could have a captive credit union to process those transactions, undermining the credit union’s safety and solvency.” Gross’s defense attorney, Henry Klingeman, said in an email, “On behalf of Pastor Gross, we will now seek a judgment of acquittal from the court and—if and when the time comes—a fair and lenient sentence.” Coin spectator is an automated news aggregation service. All copyrights belong to their respective owners. Images and text owned by copyright holders are used in reference to and promotion of those respective parties. Read in Full

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