Key Takeaways:
- Samourai Wallet founders Keonne Rodriguez and William Lonergan Hill have been arrested and charged with conspiracy to commit money laundering.
- Prosecutors claim that Samourai Wallet facilitated more than $100 million in money laundering transactions from illegal dark web markets.
- Samourai Wallet allegedly facilitated around $2 billion in unlawful transactions, and the founders face a maximum sentence of 20 years for money laundering and 5 years for operating an unlicensed money-transmitting business.
Samourai Wallet Founders Arrested and Charged with Money Laundering
Keonne Rodriguez and William Lonergan Hill, founders of Samourai Wallet, have been charged with conspiracy to commit money laundering.
The U.S. government alleges that the wallet facilitated over $100 million in money laundering transactions.
Samourai Wallet is accused of facilitating around $2 billion in unlawful transactions since 2015.
Rodriguez and Hill collected approximately $4.5 million in fees for their mixing services.
The charges carry a maximum sentence of 20 years and five years, respectively.
Rodriguez has been arrested and will be arraigned in Pennsylvania, while Hill was arrested in Portugal and will be extradited to the U.S.
Samourai Wallet's website has been seized, and a seizure warrant has been issued for its mobile application on the Google Play Store.
Samourai Wallet Encouraged Criminal Proceeds for Censorship Resistance
Rodriguez and Hill allegedly encouraged users to launder criminal proceeds through Samourai Wallet's mixer.
The founders aimed to focus on the censorship resistance and black/grey circular economy.
The development of Samourai Wallet began in 2015.
The founders marketed their wallet to "dark/grey market participants" and sought investors with the same premise.
[Original article]
