BitMEX Co-Founder Surrenders in New York

CRYPTONAIRE LYWEEK

CRYPTO investment journal

BitMEX Co-Founder Surrenders in New York

Ben Delo, wanted for conspiring to violate the Bank Secrecy Act, flew from the UK to the US to be arraigned.

A co-founder of cryptocurrency derivatives exchange BitMEX has surrendered to US authorities.

Ben Delo, a British citizen, was wanted on charges of flouting US anti-money laundering laws. As part of a surrender agreement reportedly negotiated with federal prosecutors in coordination with the Federal Bureau of Investigation and US Customs and Border Patrol, Delo flew from the UK to New York City, where he was arraigned remotely today.

At the arraignment hearing, Delo pled not guilty to failing to implement an anti-money laundering (AML) program at BitMEX as well as conspiracy to violate the Bank Secrecy Act. He posted $20 million in bond and is allowed to return to the UK to await trial, according to Bloomberg.

Delo is the second BitMEX executive to be arraigned on such charges. CTO Samuel Reed was arrested in October and subsequently released on bail.

Two indicted executives remain at large.

BitMEX CEO Arthur Hayes has been negotiating his surrender from Singapore, where he has been residing since the October indictment. In a February hearing, Assistant US Attorney Jessica Greenwood told the US District Court of the Southern District of New York that she expected Hayes to surrender in Hawaii on April 6.

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CRYPTONAIRE LYWEEK

CRYPTO investment journal