Samourai Wallet Co-Founder Pleads Not Guilty, Released on $1M Bond
- Samourai Wallet co-founder Keonne Rodriguez pleads not guilty to charges related to his cryptocurrency mixer service.
- Rodriguez was released on a $1 million bond and his next hearing will be on May 14, 2024.
According to a recent report by CoinDesk, on Monday, Samourai Wallet co-founder Keonne Rodriguez entered a not-guilty plea to charges associated with his mixer service amidst a U.S. crackdown on privacy technologies.
Samourai Wallet co-founder Keonne Rodriguez pleaded not guilty to two criminal charges in a Manhattan court on Monday, and was released on $1 million bond. @cheyenneligon reportshttps://t.co/ioHGRUJ1pv
— CoinDesk (@CoinDesk) April 29, 2024
For those who aren’t aware, mixers are created to obstruct cryptocurrency transaction tracking, making them favored by bad actors looking to launder their illicit gains.
Last week, Rodriguez, 35, and fellow co-founder William Lonergan Hill, 65, were arrested in Pennsylvania and Portugal, respectively. The duo faces charges of conspiracy to commit money laundering and operating an unlicensed money-transmitting business, carrying maximum sentences of 20 years and five years respectively.
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JUST IN‼️: Founders and CEO of Samurai Wallet have been arrested and charged with money laundering and unlicensed money transmitting offenses by the United States Attorney for the Southern District of New York. pic.twitter.com/yIeyf8Yy40
— Swan (@Swan) April 24, 2024
According to the Department of Justice (DOJ), the prosecutors accused them of using Samourai Wallet to facilitate laundering criminal proceeds and targeting 'restricted markets' as their demographic.
Rodriguez was released on a $1 million bond and his next hearing will be on May 14.
Edited by Harshajit Sarmah
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