US Arms Dealer Allegedly Used Bitcoin for Purchases
A Michigan man has been indicted for allegedly using bitcoin to purchase and ship illegal gun components overseas.
Aug 12, 2015 at 5:48 p.m. UTC:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/UEJT4KNM55EAXH33MKMAXI7BUE.jpg)
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A Michigan man has been indicted for allegedly using bitcoin to buy and sell illegal gun components on the dark web.
Benjamin James Cance, from Plainwell, is facing charges for shipping illegal arms, possession of an unregistered machine gun and money laundering.
Cance appeared before Magistrate Judge Phillip J Green yesterday and pleaded not guilty. He has since been released on bond and is awaiting trial, although no official date has been set.
International arms shipment is punishable by up to 20 years in prison, whereas the maximum penalty for money laundering and possession of a machine gun carries a 10-year prison sentence, statements from the Department of Justice indicated.
The investigation of the case is being carried out by the Department of Homeland Security, Immigration and Customs Enforcement, the Internal Revenue Service, the US Postal Inspection Service and the Bureau of Alcohol, Tobacco, Firearms and Explosives.
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