SANTA ANA, Calif. (AP) — Prosecutors say a California man has been sentenced to three years in prison for operating unlicensed businesses that illegally exchanged millions of dollars in Bitcoin and cash, often for drug dealers. Hugo Sergio Mejia pleaded guilty in July to one count each of operating an unlicensed money transmitting business and money laundering. Investigators say he never registered his companies as required, and set up multiple businesses to avoid detection. During a sting, Mejia informed a client working with law enforcement that one of his main customers was a methamphetamine buyer in Australia who made Bitcoin-cash transactions exceeding $250,000.
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