A Keene, New Hampshire man has been sentenced to eight years in prison for operating an unlicensed cryptocurrency exchange business that laundered more than $10 million in proceeds from internet fraud schemes.
The New Hampshire U.S. Attorney’s office says Ian Freeman will also have to pay restitution to fraud victims; the amount has yet not been determined. A federal jury in Concord convicted him last December of one count of conspiring to launder money and four counts of tax evasion.
Freeman, a libertarian activist and radio host, has also been ordered to pay a $40,000 fine. Prosecutors said the Bitcoin exchange business he operated often catered to con artists who targeted elderly women with online romance scams.