NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Bitcoin Reaches Forecasted All-Time High: Prophecy Predicts Bear Market Low In 364 Days
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Bitcoin Reaches Forecasted All-Time High: Prophecy Predicts Bear Market Low In 364 Days

DIY Bitcoin ATM Money Launderer Pleads Guilty

Rick Delafont
Rick Delafont
6 years ago
2 mins read
money launder bitcoin

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

A man who created his own Bitcoin ATM has pleaded guilty of money laundering and related crimes. Kunal Kalra, a resident of Westwood, California, used his machine and other means to clean as much as $25 million between 2015 and 2017.

Court documents claim that Kalra also exchanged Bitcoin for cash with a range of criminals. Amongst these are thought to be dark net drug dealers.

Bitcoin ATM Launderer Pleads Guilty of Operating an Unlicensed Money Transmitting Business

According to a report in TheNextWeb, the California-based Kalra goes by a few aliases. These include “kumar”, “shecklemayne”, and “coinman”.

Court documents reported by the publication state that his high value cash for Bitcoin trades constituted the operation of an unlicensed money transmitting business.

Kalra is thought only have only accepted transactions of more than $5,000 but would ask few, if any, questions about where the money had come from. The filings state that Kalra’s business was active between May 2015 and October 2017.

Bitcoin ATMs are springing up around the world.

With private clients, Kalra offered these high value cash for Bitcoin trades with scant background checks. We know this because during one of the many sting traps Kalra has fallen into he was even told that the money was involved in drug trafficking. On that occasion, in 2017, an undercover agent asked to exchange $400,000 of drug money into Bitcoin. He agreed to the deal.

As part of the money transmitting business, Kalra had a Bitcoin ATM that he reportedly made himself. The machine featured no know-your-customer or anti-money laundering checks. Kalra profited just as any other Bitcoin ATM operator would – by charging a commission.

The California man pleaded guilty to running an unlicensed money transmitting business. He also stated that he knew that many of the trades he facilitated involved the drug money of dark web dealers. He has yet to be sentenced but may face up to a maximum of life in prison.

As part of his operation, Kalra is thought to have used bank accounts in other people’s names, some of them fake business accounts. These provided him enough obscurity to launder money out of the gaze of law enforcement, for a time at least.

The court documents state that $889,000 in cash and 54.3 Bitcoin have been seized from Kalra, as well as a scattering of other crypto assets.

Given their instant Bitcoin-for-cash functionality, Bitcoin ATMs appear to have been a rather popular means of cleaning money for criminals. Earlier this year, NewsBTC reported on a ring of Spanish and South American drug traffickers using a machine in Madrid to clean money involved with the international cocaine trade. This prompted the police in Spain to call upon the European Union to overhaul its money laundering regulations to make them more suitable for an ever-digitising economy.

 

Related Reading: Are Bitcoin ATMs Driving Adoption, Criminality, or Consumerism?

Featured Image from Shutterstock.
Tweet123Share218ShareSend
Rick Delafont
Rick Delafont

Rick Delafont

Based in Europe, Rick has written about the cryptocurrency industry since 2016. He was first drawn to Bitcoin as a means of payment but quickly became fascinated by its wider potential implications. His interests lie in the political, economic, and social impact of the unfolding digital asset revolution.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Solana Price Prediction: Analysts Expect $250 Recovery If Bitcoin Regains $120K

Solana Price Prediction: Analysts Expect $250 Recovery If Bitcoin Regains $120K

The digital asset market is shifting fast, and both Solana and Bitcoin are again in focus. Analysts expect a rebound...

NewsBTC 4 hours ago
Altcoin, solana, bnb

Chinese Investment Bank Eyes $600 Million Raise For BNB Treasury Company

As BNB rallies to new highs, a major Chinese investment bank is reportedly in talks to raise $600 million for...

Rubmar Garcia 6 hours ago
Dogecoin price news

Dogecoin Cup and Handle Holds A Secret Few Are Seeing

In a market shaken by liquidations and fear, one chart pattern on Dogecoin’s higher time frame continues to whisper a...

Jake Simmons 7 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

монета

Polymarket и возможный запуск токена – рынок затаил дыхание

dariajz 43 minutes ago
crypto custody citigroup

Η Citigroup μπαίνει δυναμικά στα crypto με υπηρεσία custody από το 2026

Ιωάννης Ριζόπουλος 1 hour ago
Kryptoměny

Nejlepší 3 kryptoměny, které koupit v době zotavení trhu

Lenka Hanzlíková 2 hours ago

Premium Sponsors

Press Releases

  • イーサリアム 今後...

    10 minutes ago
  • ビットコイン...

    18 minutes ago
  • シバコイン...

    28 minutes ago
  • パイネットワーク...

    40 minutes ago
  • Top 3 Kryptowaluty na 2025 rok: Celem przewyższenie Dogecoina i Shiba Inu

    Top 3 Kryptowaluty na 2025 rok: Celem przewyższenie...

    19 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.