{"id":463635,"date":"2022-06-16T08:35:50","date_gmt":"2022-06-16T05:35:50","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitmex-co-founder-benjamin-delo-avoids-jail-receives-30-months-probation\/"},"modified":"2022-06-16T08:35:50","modified_gmt":"2022-06-16T05:35:50","slug":"bitmex-co-founder-benjamin-delo-avoids-jail-receives-30-months-probation","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitmex-co-founder-benjamin-delo-avoids-jail-receives-30-months-probation\/","title":{"rendered":"# BitMEX co-founder Benjamin Delo avoids jail, receives 30 months probation"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a211a610c711\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a211a610c711\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitmex-co-founder-benjamin-delo-avoids-jail-receives-30-months-probation\/#%E2%80%9D_BitMEX_co-founder_Benjamin_Delo_avoids_jail_receives_30_months_probation_%E2%80%9C\" >&#8221; BitMEX co-founder Benjamin Delo avoids jail, receives 30 months probation  &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_BitMEX_co-founder_Benjamin_Delo_avoids_jail_receives_30_months_probation_%E2%80%9C\"><\/span>&#8221; BitMEX co-founder Benjamin Delo avoids jail, receives 30 months probation  &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDYvZmJjNmNhNDYtNzAzOC00MmIzLWE1OGEtY2E2MTdiZWM3MTdhLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-2a0745c6>Benjamin Delo the co-founder of cryptocurrency exchange BitMEX has been sentenced to 30 months probation for violating the Bank Secrecy Act (BSA), which is an anti-money laundering law.<\/p>\n<p>The sentence, handed down at a federal court in New York on June 15th, follows his guilty plea to charges in February of \u201cwillfully failing to establish, implement and maintain an Anti-Money Laundering (AML) program\u201d in his role at BitMEX.<\/p>\n<p>Prosecutors had argued Delo should serve a year in prison or at least receive a two-year probation along with six months of home detention, as was given to former CEO Arthur Hayes in May.<\/p>\n<p>For Delo, his lesser sentence closes the legal saga which started in October 2020 which also saw co-founders Hayes and Samuel Reed along with BitMEX\u2019s first official employee Gregory (Greg) Dwyer charged with similar violations.<\/p>\n<p>Judge John Koeltl called Delo&#8217;s violations \u201cvery serious\u201d and said that heo knew BitMEX was breaking U.S. laws by not implementing an AML and know your customer (KYC) system.<\/p>\n<p>Judge Koeltl noted however that the exchange did later take steps to rectify the issue and become compliant.<\/p>\n<p>\u201cWhen I look back, I see a fundamental failure to address a flaw in our systems,&#8221; Delo told the court, adding he deeply regrets the actions that brought him in contact with the justice system and vowed that it would be his last brush with it.<\/p>\n<p>A citizen of the United Kingdom residing in Hong Kong, Judge Koeltl ordered Delo be allowed to serve his probationary sentence in Hong Kong. <\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>The CFTC\u2019s action against Gemini is bad <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> for Bitcoin ETFs<\/em><\/strong><\/p>\n<p>Judge Koeltl also took into consideration the fact that Delo paid a $10 million fine settling a court order from May in a civil case brought by the Commodity Futures Trading Commission (CFTC) for violating aspects of the Commodity Exchange Act.<\/p>\n<p>A spokesperson for Delo&#8217;s legal team said after the sentencing hearing they\u2019re pleased the court rejected \u201cthe government&#8217;s cynical attempt to exaggerate the seriousness of the Bank Secrecy Act charge in this case.\u201d<\/p>\n<p>Delo\u2019s lawyers said he intends to soon leave the U.S. for Hong Kong.<\/p>\n<p>Meanwhile, Australian-born former BitMEX head of business development Greg Dwyer, who currently resides in Bermua, is in talks with the New York federal court to extend a deadline for filing pre-trial documentation <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.smh.com.au\/business\/markets\/aussie-bitcoin-mogul-in-talks-with-us-prosecutors-after-co-accused-plead-guilty-20220615-p5atsp.html?ref=rss&amp;utm_medium=rss&amp;utm_source=rss_feed\">according<\/a> to the Sydney Morning Herald.<\/p>\n<p>A letter sent to the court by Dwyer\u2019s lawyer said \u201cthe parties continue to engage in discussions regarding a possible resolution to the matter.\u201d <\/p>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitmex-co-founder-benjamin-delo-avoids-jail-receives-30-months-probation\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; BitMEX co-founder Benjamin Delo avoids jail, receives 30 months probation &#8220; Benjamin Delo the co-founder of cryptocurrency exchange BitMEX has been sentenced to 30 months probation for violating the Bank Secrecy Act (BSA), which is an anti-money laundering law. The sentence, handed down at a federal court in New York on June 15th, follows&#8230;<\/p>\n","protected":false},"author":1,"featured_media":463636,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDYvZmJjNmNhNDYtNzAzOC00MmIzLWE1OGEtY2E2MTdiZWM3MTdhLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74859,82304,74993,75141,71433,70548,55229,33897,3885,70934,67874],"class_list":["post-463635","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-aml","tag-arthur-hayes","tag-bitmex","tag-kyc","tag-court","tag-fines","tag-law","tag-money-laundering","tag-new-york","tag-regulation","tag-united-states"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/463635","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=463635"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/463635\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/463636"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=463635"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=463635"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=463635"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}