The founder of Canadian payment app Payza has been sentenced to an additional 3.5 years in prison for hiding 450 bitcoins
2025-02-07 02:38:39
Message Canadian crypto payments app payza founding firoz pateldesk3cryptocurrencydesktopCrypto News
Firoz Patel, founder of Canadian crypto payment app Payza, has been sentenced to an additional 41 months in prison for trying to hide 450 bitcoins, worth about $43.50 million.
Previously, Patel was sentenced to three years in prison in 2020 for illegally operating a money transmission business and money laundering. During his sentence, Patel tried to deposit the bitcoins in Binance and Blockchain.com, but both were found and frozen. In addition to the new sentence, the court also ordered Patel to submit to three years of supervised release and confiscate more than $24 million and 450 bitcoins currently held by Blockchain.com.
Previously, Patel was sentenced to three years in prison in 2020 for illegally operating a money transmission business and money laundering. During his sentence, Patel tried to deposit the bitcoins in Binance and Blockchain.com, but both were found and frozen. In addition to the new sentence, the court also ordered Patel to submit to three years of supervised release and confiscate more than $24 million and 450 bitcoins currently held by Blockchain.com.
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