Monmouth County Man Charged With Operating An Unlicensed Bitcoin Exchange
2019-07-24 · Press release
NEWARK, N.J. – A Monmouth County, New Jersey, man was indicted today by a federal grand jury for operating an unlicensed money transmitting business through which he charged customers fees to convert more than $2 million in cash into the digital currency Bitcoin.
William Green, 46, of Wall Township, was charged by indictment with one count of operating an unlicensed money transmitting business. He is scheduled to appear before a United States District Judge on a date to be scheduled. He was previously charged with the same offense by criminal complaint on February 28, 2019.
According to the documents filed in this case and statements made in court:
Green maintained a business that operated a website called “Destination Bitcoin.” Through the Destination Bitcoin website, Green received money from members of the public (the “customers”), deposited such money into bank accounts maintained by Green, and then converted such money into Bitcoin in accordance with the customers’ instructions. 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 or not the business is licensed as a money transmitting business in any State) with the Secretary of the Treasury. However, Green did not register, either in his own name or in the name of his business, with the Secretary of the United States Treasury as a money transmitting business.
The charge of operating an unlicensed money transmitting business carries a maximum penalty of 5 years imprisonment and a $250,000 fine.
U.S. Attorney Carpenito credited special agents of IRS - Criminal Investigation, under the direction of Special Agent in Charge John R. Tafur, as well as special agents of the U.S. Immigration & Customs Enforcement, Homeland Security Investigations, under the direction of Special Agent in Charge Brian Michael, with the investigation leading to today’s indictment.
The government is represented by Assistant U.S. Attorney Anthony Torntore of the U.S. Attorney’s Office Cybercrimes Unit in Newark.
The charge and allegations in the indictment are merely accusations, and the defendant is considered innocent unless and until proven guilty.
Defense counsel: Michael Gilberti, Esq.
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- https://www.justice.gov/usao-nj/pr/monmouth-county-man-charged-operating-unlicensed-bitcoin-exchange
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| participant_id | name | role | title | organization | location | age | nationality | status |
|---|---|---|---|---|---|---|---|---|
| 2202 | William Green | defendant | New Jersey | 46 | indicted | |||
| 2203 | Carpenito | prosecutor | U.S. Attorney | U.S. Attorney's Office | Newark, New Jersey | |||
| 2204 | Anthony Torntore | prosecutor | Assistant U.S. Attorney | U.S. Attorney’s Office Cybercrimes Unit | Newark, New Jersey | |||
| 2205 | John R. Tafur | Special Agent in Charge | IRS Criminal Investigation | |||||
| 2206 | Brian Michael | Special Agent in Charge | U.S. Immigration & Customs Enforcement, Homeland Security Investigations | |||||
| 2207 | Michael Gilberti | defense attorney | Attorney |
| agency_id | agency_name | abbreviation | role | office_location | agents_mentioned | contribution |
|---|---|---|---|---|---|---|
| 1356 | IRS Criminal Investigation | IRS-CI | investigation | John R. Tafur | investigation leading to today’s indictment | |
| 1357 | U.S. Immigration and Customs Enforcement, Homeland Security Investigations | HSI | investigation | Brian Michael | investigation leading to today’s indictment |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1145 | operating an unlicensed money transmitting business | 5 years imprisonment | $250,000 | William Green | indicted | 1 | enrichment | 2026-09-16T19:45:58+00:00 | ||||||
| 1146 | operating an unlicensed money transmitting business | 5 years imprisonment | $250,000 | William Green | charged | 1 | enrichment | 2026-09-16T19:45:58+00:00 | ||||||
| 3041 | operating an unlicensed money transmitting business through which he charged customers fees to convert more than $2 million in cash | 1 | press | 2026-09-16T19:45:58+00:00 | ||||||||||
| 3042 | operating an unlicensed money transmitting business | 1 | press | 2026-09-16T19:45:58+00:00 | ||||||||||
| 3043 | operating an unlicensed money transmitting business carries a maximum penalty of 5 years imprisonment and a $250,000 fine | 1 | press | 2026-09-16T19:45:58+00:00 | ||||||||||
| 3044 | operating an unlicensed money transmitting business through which he charged customers fees to convert more than $2 millio | 1 | press | 2026-09-16T19:45:58+00:00 | ||||||||||
| 3045 | unlicensed money transmitting business through which he charged customers fees | 1 | press | 2026-09-16T19:45:58+00:00 | ||||||||||
| 3046 | unlicensed money transmitting business | 1 | press | 2026-09-16T19:45:58+00:00 | ||||||||||
| 3047 | unlicensed money transmitting business carries a maximum penalty of 5 years im | 1 | press | 2026-09-16T19:45:58+00:00 |
| fin_id | action_type | amount | currency | description | asset_type | defendant | status |
|---|---|---|---|---|---|---|---|
| 722 | fine | $250,000 | USD | Maximum penalty for operating an unlicensed money transmitting business | cash | William Green | pending |
| victim_id | victim_type | description | number_affected | loss_amount | geographic_scope | vulnerability_factors | impact_description |
|---|---|---|---|---|---|---|---|
| 342 | null | null | null | null | null | null | null |
| quote_id | quote_text | speaker_name | speaker_title | speaker_organization | quote_type | context | significance |
|---|---|---|---|---|---|---|---|
| 1883 | Green maintained a business that operated a website called “Destination Bitcoin.” Through the Destination Bitcoin website, Green received money from members of the public (the “customers”), deposited such money into bank accounts maintained by Green, and then converted such money into Bitcoin in accordance with the customers’ instructions. Green charged the customers a fee for this service. | statement | Description of the defendant's activities | Describes the illegal operation of an unlicensed money transmitting business | |||
| 1884 | Federal law provides that any person who owns or controls a money transmitting business shall register the business (whether or not the business is licensed as a money transmitting business in any State) with the Secretary of the Treasury. | statement | Explanation of legal requirements for money transmitting businesses | Highlights the legal requirement that the defendant failed to comply with |
| theme_id | theme_name | description | significance | related_statutes | geographic_scope | temporal_aspects | stakeholders |
|---|---|---|---|---|---|---|---|
| 1492 | Operating an Unlicensed Money Transmitting Business | William Green operated a business converting cash to Bitcoin without registering with the U.S. Treasury as required by federal law. | Central charge leading to potential penalties of up to 5 years imprisonment and a $250,000 fine. | 18 U.S.C. § 1960 | National | Recent development | Law enforcement, Financial institutions, Defendant, Customers |
| 1493 | Cryptocurrency (Bitcoin) | Bitcoin was used as the digital currency in transactions processed through Green's unlicensed business. | Highlights the use of cryptocurrency in financial transactions and potential regulatory challenges. | National | Recent development | Defendant, Customers, Financial regulators | |
| 1494 | Federal Regulations Compliance | Green failed to comply with federal requirements to register his money transmitting business with the U.S. Treasury. | Non-compliance formed the basis of the criminal charges against him. | 18 U.S.C. § 1960 | National | U.S. Treasury, Defendant, Regulatory agencies | |
| 1495 | Law Enforcement Collaboration | IRS Criminal Investigation and U.S. Immigration and Customs Enforcement's Homeland Security Investigations collaborated on the investigation. | Demonstrates multi-agency cooperation in addressing financial crimes. | National | Recent development | IRS, ICE, U.S. Attorney's Office |
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