Canadian who tried to hide 450 Bitcoin from feds gets more prison time
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Sentencing of Firoz Patel: A US judge sentenced Canadian crypto payments app founder Firoz Patel to 41 months in prison for attempting to conceal 450 Bitcoin, valued at over $43.5 million, after being convicted on money laundering charges.
Obstruction and Fraud Attempts: Patel was previously sentenced for operating an unlicensed money-transmitting business and attempted to launder Bitcoin while serving his sentence, including hiring a fake lawyer to deceive prosecutors before his release.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
