New York Prosecutor Unveils Illegal Bitcoin ATMs Network
The Manhattan District Attorney’s Office has charged a New York City resident with placing and operating unregistered Bitcoin ATMs in New York, New Jersey and Miami.
According to the prosecutor, New York resident Robert Taylor placed a total of 46 Bitcoin ATMs in the three cities and sold $5.6 million worth of Bitcoins between 2017 and 2018. He charged fees ranging from 10% to 20% for the transactions.
The prosecution alleges that in his social media posts, Taylor assured ATM users his devices did not use cameras or require identification. Those words attracted customers who had recently committed criminal offenses.
Taylor turned himself in to authorities and was charged with tax evasion, false tax returns and installing an unlicensed money transfer device.
Manhattan District Attorney Alvin Bragg Jr. has said:
“Robert Taylor went to great lengths to keep his Bitcoin terminals as secret as possible and to attract a clientele that would pay big money for anonymity.”
