Former BitMEX CEO Arthur Hayes was sentenced to two years probation, with home detention for six months with location monitoring in a federal courthouse in New York on Friday. Hayed had plead guilty in February to charges that he willfully failed to implement an anti-money laundering (AML) program at the exchange.
Hayes and his BitMEX co-founders, Samuel Reed and Ben Delo, as well as the company’s first employee, Gregory Dwyer, were initially charged in Oct. 2020 with one count each of violating the Bank Secrecy Act (BSA), and another of conspiring to do so.
Hayes, a U.S. citizen and longtime resident of Singapore, surrendered to U.S. authorities in Hawaii last April, in a deal brokered between his lawyers and federal prosecutors. He was released on a $10 million bond secured by $1 million in cash and co-signed by his mother.
This is a developing story and will be updated.
Read more: BitMEX Starts Spot Exchange on Eve of Co-Founder Hayes’s Sentencing
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