Louisiana Bitcoin Traders Sentence to Prison for Operating Illegal Bitcoin Exchange Business | dinbits

Former Shreveport chiropractor Randall Bryan Lord and his son, Michaek Aaron Lord, were sentenced Wednesday for funneling money through an unlawful bitcoin financial scheme.

The Shreveport, LA residents were sentenced to 46 months and 106 months in prison respectively by U.S. District Judge S. Maurice Hicks Jr. 

Additionally they were sentenced to one year and three years of supervised release respectively. The defendants pleaded guilty to operating an unlicensed money servicing business. 

According to the plea agreements, from 2013 to 2015, the defendants were accepting currency, money orders and MoneyPaks while exchanging those funds for bitcoin.

The Lords operation was not registered with FinCEN to conduct such activity and additionally failed to report the receipt of more than $31,000 in U.S. currency. 

Written by dinbits
Artwork: Banner image created dinbits.com staff

Federal case 5:15-cr-00240-SMH-MLH

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