Man Pleads Guilty To $5 Million Cash-Crypto Fraud in Miami

Miami, FL: A man was found guilty in facilitating transactions totaling more than $5 million in digital currency for various clients, including an online narcotics trafficker and a money launderer, as stated by federal prosecutors.

Raul Rodriguez, a resident of Miami, has admitted to operating an unlicensed money transmitter business, according to federal prosecutors who announced on Tuesday.

According to records, Rodriguez, 43, has confessed to receiving fees for his services between 2016 and 2022. He conducted these transactions through LocalBitcoins, a well-known peer-to-peer exchange platform based in Finland that halted trading operations last year.

Rodriguez, who goes by the online alias RaulTioVigia, held the title of highest-volume trader for LocalBitcoins in Florida for approximately two years, as stated by federal prosecutors.

Collaborating on the case were federal investigators in Miami from the Internal Revenue Service, the FBI, and the Drug Enforcement Administration.

The sentencing for Rodriguez has been scheduled for 11 a.m. on April 2nd at the federal court in Miami. He could potentially be sentenced to a maximum of five years behind bars.

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