New Jersey Man Admits Operating Illegal Bitcoin Exchange
2021-04-05 · Press release
NEWARK, N.J. – A Monmouth County, New Jersey, man today admitted operating an illegal bitcoin exchange, Acting U.S. Attorney Rachael A. Honig announced.
William Green, 53, of Wall, New Jersey, pleaded guilty by videoconference before U.S. District Judge Kevin McNulty to Count 1 of an indictment charging him with operating an unlicensed money transmitting business.
According to documents filed in this case and statements made in court:
From August 2017 through February 2019, Green operated a website called “Destination Bitcoin.” Through the website and various referrals, Green received money from members of the public through cash, wire transfers into bank accounts controlled by Green, and online payment processors. Green then converted the funds to bitcoin and transferred the bitcoin to bitcoin wallet addresses provided by the customers. Green charged the customers a fee for this service.
Federal law provides that any person who owns or controls a money transmitting business shall register the business (whether the business is licensed as a money transmitting business in any state) with the Secretary of the Treasury. Green admitted today that he knew he was required to register his business with the Secretary of the Treasury and that he failed to do so.
The unlicensed money transmitting charge to which Green pleaded guilty carries a maximum potential penalty of five years in prison and a $250,000 fine. Sentencing is scheduled for Aug. 10, 2021.
Acting U.S. Attorney Honig credited special agents of IRS – Criminal Investigation, under the direction of Special Agent in Charge Michael Montanez, and special agents of the U.S. Department of Homeland Security, Homeland Security Investigations, under the direction of Special Agent in Charge Jason J. Molina, with the investigation leading to today’s guilty plea.
The government is represented by Assistant U.S. Attorneys Anthony P. Torntore and Matthew Feldman Nikic of the U.S. Attorney’s Cybercrime Unit in Newark.
- district_office
- usa_name
- event_type
- judge_name
- judge_title
- case_number
- max_penalty_text
- sentence_summary
- money_amounts
- crypto_assets
- statutes_json
- timeline_json
- press_release_url
- https://www.justice.gov/usao-nj/pr/new-jersey-man-admits-operating-illegal-bitcoin-exchange
- extras_json
| participant_id | name | role | title | organization | location | age | nationality | status |
|---|---|---|---|---|---|---|---|---|
| 1956 | Rachael A. Honig | Acting U.S. Attorney | Acting U.S. Attorney | U.S. Attorney's Office | Newark, New Jersey | |||
| 1957 | William Green | defendant | Wall, New Jersey | 53 | pleaded guilty | |||
| 1958 | Kevin McNulty | judge | U.S. District Judge | U.S. District Court | Newark, New Jersey | |||
| 1959 | Michael Montanez | Special Agent in Charge | Special Agent in Charge | IRS – Criminal Investigation | ||||
| 1960 | Jason J. Molina | Special Agent in Charge | Special Agent in Charge | U.S. Department of Homeland Security, Homeland Security Investigations | ||||
| 1961 | Anthony P. Torntore | Assistant U.S. Attorney | Assistant U.S. Attorney | U.S. Attorney’s Cybercrime Unit | Newark | |||
| 1962 | Matthew Feldman Nikic | Assistant U.S. Attorney | Assistant U.S. Attorney | U.S. Attorney’s Cybercrime Unit | Newark |
| agency_id | agency_name | abbreviation | role | office_location | agents_mentioned | contribution |
|---|---|---|---|---|---|---|
| 1221 | IRS Criminal Investigation | IRS-CI | investigation | Michael Montanez | conducted the investigation leading to the guilty plea | |
| 1222 | Homeland Security Investigations | HSI | investigation | Jason J. Molina | conducted the investigation leading to the guilty plea |
| charge_id | charge_description | statute | severity | max_penalty | fine_amount | defendant | status | participant_id | cl_docket_id | count_num | is_1960 | verified_1960 | source | updated_at |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1024 | operating an unlicensed money transmitting business | five years in prison | $250,000 | William Green | pleaded guilty | 1 | enrichment | 2026-09-16T19:45:57+00:00 | ||||||
| 2936 | operating an unlicensed money transmitting business | 1 | press | 2026-09-16T19:45:57+00:00 | ||||||||||
| 2937 | unlicensed money transmitting business | 1 | press | 2026-09-16T19:45:57+00:00 |
| fin_id | action_type | amount | currency | description | asset_type | defendant | status |
|---|---|---|---|---|---|---|---|
| 385 | fine | $250,000 | USD | maximum potential penalty for operating unlicensed money transmitting business | William Green | pending |
| victim_id | victim_type | description | number_affected | loss_amount | geographic_scope | vulnerability_factors | impact_description |
|---|---|---|---|---|---|---|---|
| 267 | individual | members of the public | Used an unlicensed money transmitting service |
| quote_id | quote_text | speaker_name | speaker_title | speaker_organization | quote_type | context | significance |
|---|---|---|---|---|---|---|---|
| 1260 | From August 2017 through February 2019, Green operated a website called “Destination Bitcoin.” Through the website and various referrals, Green received money from members of the public through cash, wire transfers into bank accounts controlled by Green, and online payment processors. Green then converted the funds to bitcoin and transferred the bitcoin to bitcoin wallet addresses provided by the customers. Green charged the customers a fee for this service. | statement | Description of the illegal activities conducted by William Green | Details the illegal operations of the bitcoin exchange | |||
| 1261 | Federal law provides that any person who owns or controls a money transmitting business shall register the business (whether the business is licensed as a money transmitting business in any state) with the Secretary of the Treasury. | statement | Explanation of the legal requirement for money transmitting businesses | Highlights the legal obligation that Green failed to comply with | |||
| 1262 | Green admitted today that he knew he was required to register his business with the Secretary of the Treasury and that he failed to do so. | statement | Admission of guilt by William Green | Acknowledges Green's awareness of the legal requirement and his failure to comply |
| theme_id | theme_name | description | significance | related_statutes | geographic_scope | temporal_aspects | stakeholders |
|---|---|---|---|---|---|---|---|
| 1292 | Operating an Unlicensed Money Transmitting Business | Green operated a website called 'Destination Bitcoin' from August 2017 through February 2019, receiving money from the public and converting it to Bitcoin without proper registration. | Central to the charges, violating federal registration requirements under 18 U.S.C. § 1960. | 18 U.S.C. § 1960 | National | Historical trend | Law enforcement, Defendant, Financial institutions, Customers |
| 1293 | Cryptocurrency (Bitcoin) | The service used Bitcoin to convert customer funds, facilitating anonymous transactions. | Highlighted the use of cryptocurrency in evading financial regulations. | National | Customers, Financial institutions, Law enforcement | ||
| 1294 | Federal Law Enforcement Collaboration | IRS-Criminal Investigation and Homeland Security Investigations collaborated on the investigation. | Demonstrates interagency cooperation in addressing financial crimes. | National | IRS-Criminal Investigation, Homeland Security Investigations, U.S. Attorney's Office | ||
| 1295 | Registration Requirements for Money Transmitters | Green failed to register his business with the Treasury as required by federal law. | Central to the legal violation, emphasizing compliance obligations. | 18 U.S.C. § 1960 | National | Business owners, Regulatory agencies, Law enforcement |
CourtListener / RECAP
No linked CourtListener docket yet.