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Bitcoin Seized by Ohio DOJ Sold for More Than $19M: Report
The haul was worth around $2.9 million when forfeited in 2019.
Bitcoin seized in a fraud investigation by the U.S. Department of Justice (DOJ)'s Northern District of Ohio returned $19.2 million when sold, The Blade reported.
STORY CONTINUES BELOW
- The crypto was seized from Mark Simon, an Ohio man arrested and convicted for producing and selling false identification documents, such as driver's licenses.
- Simon's clients paid for the documents in bitcoin.
- An initial indictment of Simon and his alleged accomplices in March 2018 stated prosecutors wanted Simon to forfeit 500 BTC, worth an estimated $5.1 million at the time.
- The bitcoin was worth around $2.9 million when surrendered to the federal government in 2019, The Blade said.
- The bitcoin were sold for more than $19 million, the report said, citing Acting U.S. Attorney Bridget Brennan.
- It was the largest net forfeiture in Northern District of Ohio's history, she said Thursday.
- Simon pleaded guilty. He was sentenced to 24 months in prison and agreed to the forfeiture of the crypto.
Read more: US Government to Auction Off Seized Litecoin Alongside Bitcoin
Jamie Crawley
Jamie has been part of CoinDesk's news team since February 2021, focusing on breaking news, Bitcoin tech and protocols and crypto VC. He holds BTC, ETH and DOGE.
