Feds Seize $54M in Cryptocurrencies from Leader of New Jersey Drug Ring
Federal law enforcement officials have seized $54 million worth of cryptocurrencies from Christopher Castelluzzo, the leader of a New Jersey drug ring, and his co-conspirators. The funds were discovered in crypto wallets and were the laundered proceeds of the crew's mail-order cocaine and designer drug operations. Castelluzzo had intended to evade taxes and liquidate his holdings outside the country, and had discussed various offshore destinations for the crypto fortune while in prison. The U.S. Attorney's office stated that the forfeiture action should serve as a warning to those who believe their illicit behavior cannot be traced.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Prediction Market Shows 75% Chance of New Country Buying Bitcoin This Year
Frax community approves frxUSD stablecoin backed by BlackRock's BUIDL
According to RWA.xyz, BlackRock's USD Institutional Digital Liquidity Fund has over $648 million in assets under management. The Frax community has voted to pass FIP-418 to use BlackRock's USD Institutional Digital Liquidity Fund (BUIDL) as backing collateral for the Frax-USD (frxUSD) stablecoin. A