Father-Son Duo from Maryland Sentenced in Bitcoin Laundering Case

Father-Son Duo from Maryland Sentenced in Bitcoin Laundering Case



In a landmark case illustrating the intricate nature of cybercrime, a father-son pair from Maryland have been adjudged guilty for their pivotal roles in an elaborate dark web drug distribution network and an intricate Bitcoin money laundering venture.



Seventy-two-year-old Joseph Farace faced a 19-month sentence in federal custody on January 8 for aiding his son, 38-year-old Ryan Farace, in the laundering of Bitcoin proceeds derived from illicit drug transactions. According to court records, between November 2013 and June 2017, Ryan Farace spearheaded a profitable dark web scheme, accruing over 9,138 Bitcoins through illegal drug sales.



In a bold move in 2020, Ryan Farace, while incarcerated, managed to transfer over 2,874 Bitcoins to an overseas bank account. He cleverly used a book from the prison library to communicate the


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