Owner of Digital Currency Exchange Sentenced to 10 Years for Money Laundering

Owner of Digital Currency Exchange Sentenced to 10 Years for Money Laundering
In this photo illustration a visual representation of the digital currency Bitcoin sinks into water in London, England, on Aug. 15, 2018. Dan Kitwood/Getty Images
Updated:

Rossen G. Iossifov was sentenced to 121 months in prison on Tuesday for his involvement in a multi-million dollar scheme to defraud American victims. He must serve 85 percent of his sentence in prison, according to federal law.

U.S. District Court Judge Robert E. Weir sentenced Rossen G. Iossifov for conspiracy to commit a Racketeer Influenced and Corrupt Organizations Act (RICO) offense and conspiracy to commit money laundering.