Ohio Man Steals Over $12,000,000 in Bitcoin (BTC) From IRS, Faces 40 Years in Prison: Report

An Ohio man is dealing with a long time in jail after pleading responsible to stealing thousands and thousands of {dollars} price of Bitcoin (BTC) from the Inner Income Service (IRS).

Based on a brand new press release from the U.S. Division of Justice (DOJ), 31-year-old Gary Harmon of Cleveland, Ohio is dealing with 40 years behind bars for stealing digital belongings that had been initially seized by authorities from his brother.

Gary Harmon has pleaded responsible to wire fraud and obstruction of justice after stealing 712 Bitcoin price about $12 million at time of writing. Authorities had beforehand seized the BTC from Harmon’s brother, who pled responsible to cash laundering conspiracy in August 2021.

Based on the DOJ, Harmon admitted to utilizing his brother’s credentials to entry and steal the Bitcoin, which means he knew the seed phrases or non-public keys wanted to remotely entry the BTC.

In February 2020, Larry Harmon, Gary Harmon’s brother, was arrested for laundering thousands and thousands of {dollars} price of digital belongings by way of Helix, a darknet cash washing enterprise. On the time of his arrest, a crypto storage gadget was seized, although officers had been unable to crack its safety to entry the Bitcoin on it. Bloomberg reported that the crypto storage gadget was held by the IRS.

Based on the press launch, Gary Harmon transferred the Bitcoin to his personal pockets after which washed the BTC utilizing coin mixers.

On January sixth, Gary Harmon pleaded responsible to his fees and agreed to forfeit the stolen Bitcoin.

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