Father of Bitcoin Exchange Operator Pleads Guilty to Obstruction

A Florida man pled guilty yesterday after being indicted in a case tied to the now-defunct Florida bitcoin exchange Coin.mx.

Michael Murgio, father of Coin.mx operator Anthony Murgio, allegedly took part in a plan to gain control of a New Jersey credit union. That plan, according to prosecutors, involved paying off senior officials at the Hope Federal Credit Union, which has since been shuttered.

The elder Murgio was arrested in April, and this week pled guilty to a charge of conspiracy to obstruct an examination of a federal financial institution. He faces as many as five years in prison.

As reported by Reuters, Murgio admitted to writing a letter to credit union regulators in 2014 that contained false information.

Coin.mx was shuttered last summer after its operators were charged with unlawful money transmission and money laundering. Federal prosecutors have tied the Coin.mx exchange to a wider plot to hack financial institutions two years ago, including JPMorgan. Those running the exchange were accused of acting as a financial conduit for a global cybercrime network – an allegation the defendants have denied.

Michael Murgio previously served as a county school board member in Palm Beach, Florida, a position from which he resigned after he was indicted earlier this year, according to The Palm Beach Post.

Others tied to the alleged credit union capture continue to face trial.

Pastor Trevón Gross, who at the time as chairman of the credit union, was indicted in March for allegedly taking the bribes, though he has denied the charge. Another defendant, Yuri Lebedev, was accused of taking part in the alleged scheme but has also plead not guilty.

Anthony Murgio has denied the allegations against him, and is expected to face trial early next year. He plead not guilty last November.

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