> The plot, prosecutors said, was simple: members of the Make Money Online (MMO) team would purchase crime proceeds via cryptocurrency at a discount and transfer those proceeds into bank accounts held by entities affiliated with newspaper.
> The illegal proceeds would ultimately be moved back into the Epoch Times accounts through "tens of thousands of layered transactions", including through prepaid debit cards and financial accounts opened using stolen identification information.
What are “crime proceeds”?
Are these seized assets by the Feds sold at a discount? Or stolen assets by criminals (also sold at a discount)?
Either way, sounds like classic money laundering as the follow up.
> The illegal proceeds would ultimately be moved back into the Epoch Times accounts through "tens of thousands of layered transactions", including through prepaid debit cards and financial accounts opened using stolen identification information.
What are “crime proceeds”?
Are these seized assets by the Feds sold at a discount? Or stolen assets by criminals (also sold at a discount)?
Either way, sounds like classic money laundering as the follow up.