U.S. prosecutors recommend 12-month probation for former Bitmex executive

U.S. prosecutors have asked a court to sentence Greg Dwyer, Bitmex’s former head of business development, to 12 months of probation for violating the U.S. Bank Secrecy Act. 

In addition, prosecutors have requested an “agreed-upon $150,000 fine.”

Dwyer has asked the court for a time-served sentence with no probation, according to a letter filed on Nov. 16. The government lawyers said such a sentence would be “inadequate.”

Dwyer, along with other Bitmex executives, was accused of violating the U.S. Bank Secrecy Act. He pleaded not guilty in October 2021 but switched his plea to guilty this past August.

Earlier this year, Bitmex co-founder Arthur Hayes was sentenced to six months of home detention as part of a larger two-year probation. Other Bitmex executives previously charged have been hit with fines and sentenced to probationary periods. 

© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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