Father and Son Sentenced for Laundering Millions in Bitcoin

A Father and son were imprisoned for conspiring in the laundering of proceeds of a dark web drug trafficking operation.

On January 8, 2024, Joseph Farace, 72, of Maryland was sentenced to 19 months in federal prison for helping his 38-year-old son, Ryan Farace, launder bitcoin he acquired from the distribution of counterfeit Xanax pills through the dark web.
According to court documents, Ryan Farace made over 9,138 Bitcoin from a dark web drug trafficking operation that operated from November …

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