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An Ohio man faces decades in prison after pleading guilty to stealing millions of dollars worth of Bitcoin (BTC) from the Internal Revenue Service (IRS).
Gary Harmon, 31, of Cleveland, Ohio, faces 40 years behind bars for stealing digital assets originally seized by authorities from his brother, according to a new press release from the US Department of Justice (DOJ). .
Gary Harmon pleaded guilty to wire fraud and obstruction of justice after stealing 712 Bitcoins worth around $12 million at the time of writing. Authorities previously seized BTC from brother Harmons, who pleaded guilty to money laundering conspiracy in August 2021.
According to the DOJ, Harmon admitted to using his brothers’ credentials to access and steal Bitcoin, implying that he knew the seed phrases or private keys needed to access BTC remotely.
In February 2020, Larry Harmon, brother of Gary Harmons, was arrested for laundering millions of dollars in virtual assets through Helix, a darknet moneywashing firm. At the time of his arrest, a crypto storage device was seized, although officials were unable to crack its security to access the Bitcoin it contains. Bloomberg reported that the crypto storage device was held by the IRS.
According to the press release, Gary Harmon transferred the Bitcoin to his own wallet and then washed the BTC using coin mixers.
On January 6, Gary Harmon pleaded guilty to his charges and agreed to confiscate the stolen Bitcoin.
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Featured Image: Shutterstock/studiostoks
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