Samourai Wallet Founders Face Prison for Unlicensed Money Transfer Operations

According to BlockBeats, Keonne Rodriguez and William Lonergan Hill, co-founders of the cryptocurrency mixing service Samourai Wallet, have admitted to conspiring to operate an unlicensed money transfer business. This admission could lead to a maximum sentence of five years in prison. As part of their plea agreement, the U.S. Department of Justice has agreed to drop more severe charges of money laundering, which could have resulted in a maximum sentence of 20 years according to the department's sentencing guidelines. The charge of operating an illegal money transfer business carries a maximum penalty of five years. Initially, both Rodriguez and Hill pleaded not guilty to the charges. However, court documents reveal that they have since changed their plea to guilty.