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An Akron man admitted Wednesday to laundering more than $300 million in bitcoin, channeling much of it through the darknet to shield his customers from law enforcement.
Larry Dean Harmon, 38, pleaded guilty to conspiracy to launder monetary instruments in U.S. District Court in Washington, D.C. As part of his plea, he will forfeit more than 4,400 bitcoin, valued at more than $200 million.
He faces a maximum sentence of 20 years in prison and a fine of $500,000 when Judge Beryl Howell sentences him. A date for that hearing has not been set.
Attempts to reach Harmon were unsuccessful. His attorney, Charles Flood, did not return a message seeking comment.
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