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One of the founders of crypto derivative exchange BitMEX surrendered to the US authorities to face the alleged violation of the Banking Security Act yesterday.
According to public court filings, Mr. Ben Delo traveled from England to the US and appeared before Court Judge Sarah L. Cave in a remote proceeding where he pleaded not guilty.
He was later released on a $ 20 million bail, on Monday, with a conference held in May, according to court filings. Bloomberg further reported that Delo will be allowed to return to the UK on bail terms.
Mr. Delo, along with BitMEX co-founders Arthur Hayes and Samuel Reed, were charged by the US Department of Justice of breaching BSA and plotting to violate BSA last October.
BitMEX’s first employee, Gregory Dwyer, was also charged.
According to BSA, financial institutions are required to provide documentation to regulators with transactions over $ 10,000. The aim is to prevent crime from laundering large amounts of cash in banks and elsewhere.
Rachel Miller, a Delo spokesperson, told Bloomberg:
“The allegations against Ben are baseless and represent the US administration’s overly unfounded outreach. Ben intends to defend himself from the allegations and remove his name in court. ”
Earlier this month, Jessica Greenwood, the US assistant attorney for New York’s Southern District, said she was in talks with Hayes’s attorneys. Greenwood court documents show that “have discussed with the attorney how to arrange a voluntary surrender“For former CEO Arthur Hayes and for a deal to show up from afar or to New York” when needed “.
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