Toledo Talk

Our Bitcoin Pirate

Wow - what a story! I've learned so much from reading the details. A local guy has been arrested for making/selling false ID cards. He paid his two Toledo employees with gold bars or gold coins. The Blade is covering the story, but here's a link to Cleveland.com which doesn't slap me with a paywall:

http://www.cleveland.com/metro/index.ssf/2018/02/feds_seize_47_million_in_bitco.html

I had no idea there was a Bitcoin ATM in town ... also I wonder how people cash in their gold bars in a town like ours :)

created by viola on Feb 10, 2018 at 06:03:36 pm     Comments: 2

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He was getting paid in bitcoin for his illegal "services/product" and then "washing"/laundering by purchasing with bitcoin gold bars and coins online to sell for cash flow.

posted by dino on Feb 10, 2018 at 08:24:22 pm     #   2 people liked this

Buying or selling gold bars, Krugerrands, or precious metals in general is pretty easy. You look up the current value of gold and start calling places that buy and sell gold, and that's about it. You take a beating on the transaction because the middle men each get a percentage.

posted by madjack on Feb 11, 2018 at 05:07:29 pm     #