Texas drug gang sentenced for laundering $50,000 a month via cryptocurrency

Six members of a Texas drug ring have been sentenced for their roles in a darknet drug operation that laundered up to $50,000 a month through cryptocurrency. The group, operating under the name "Loverbois," sold nearly 12 kilograms of methamphetamine. Between July 2019 and December 2020, they processed an average of about 20 drug orders per day. After the FBI dismantled the network, members of the drug ring were sentenced to terms ranging from probation to 84 months in prison. The U.S. Attorney's Office for the Southern District of Ohio announced Tuesday the sentencing of six individuals involved in darknet methamphetamine trafficking. The Texas ring distributed nearly 12 kilograms of methamphetamine disguised as Adderall pills and laundered drug proceeds through cryptocurrency between July 2019 and December 2020. "The defendants sold at least 11.98 kilograms of methamphetamine pills and laundered between $15,000 and $50,000 per month through cryptocurrency," court documents show. The gang operated under the name "Loverbois" as a seller, laundering profits in cryptocurrency and processing an average of about 20 drug orders per day. "Court documents detail that Phung created and managed the Loverbois account during most of the conspiracy. He took orders online and obtained pills from Tran and Guzman." (Bitcoin.com)