Bitcoin Seized by Ohio DOJ Sold for More Than $19M: Report

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.

• 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