California man indicted for laundering crypto in drug trafficking scheme

The Department of Justice announced charges against a California man Friday over allegedly attempting to launder drug trafficking proceeds through crypto channels.

John Khuu allegedly distributed fake prescription drugs and other substances on dark web markets, receiving payment primarily in bitcoin. Through hundreds of transactions, Khuu exchanged the crypto for dollars, according to the indictment, laundering more than $5,350,000. 

Khuu faces an indictment in the Northern District of California for unlawful importation of a controlled substance in addition to the new money laundering charges handed down in the Eastern District of Texas. Authorities arrested Khuu in August.  

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