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US DOJ Accuses Listings Site Backpage Of Laundering Millions In Crypto

Published 04/10/2018, 04:38 PM
Updated 04/11/2018, 12:02 PM
US DOJ Accuses Listings Site Backpage Of Laundering Millions In Crypto

Listings website Backpage.com was seized on Friday by the US Department of Justice (DOJ) in part on charges that it laundered half a billion dollars in illegal revenue, some via cryptocurrencies, a DOJ press release announced Monday, April 9.

The 93-count federal indictment, obtained through joint action by the FBI, IRS and others, alleges that Backpage earned “over $500 mln in prostitution-related revenue since its inception.” IRS Criminal Investigation Chief John D. Fort dubbed the defendants “masterminds,” who committed “egregious financial crimes such as money laundering […] at the expense of women and children,” using “virtual currencies… and the anonymity of the Internet” to cover their tracks.

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