Ohio resident Larry Dean Harmon has pleaded guilty to ML through his operation of the Darknet-based cryptocurrency laundering service ‘Helix’. Helix, which Harmon operated from 2014 to 2017, was a bitcoin ‘mixer’ that provided a paid service to its customers to send bitcoin to recipients in a hidden manner. Harmon advertised Helix on the Darknet as a means to conceal transactions from law enforcement.
The mixer service moved over 350,000 bitcoins (equivalent to over $300 million at the time of the transactions) for customers. Importantly, the majority of these customers came from Darknet markets. Harmon also laundered bitcoins sourced from illegal drug trafficking on Darknet marketplaces.
Harmon will forfeit over 4,400 bitcoin (over $200 million currently) and properties linked to the money laundering conspiracy. He can also face a penalty of up to 20 years in prison and a fine of $500,000, among other obligations.
Source: US Department of Justice