Former CEO of BitMEX, Hayes, asks the US court for a free prison sentence – DiarioBitcoin

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Former CEO of BitMEX, Hayes, asks the US court for a free prison sentence - DiarioBitcoin For Hannah Perez

Hayes hopes the federal judge can be lenient; he doesn’t want to go to jail and wants to travel freely. Lawyers filed a request this week.


The co-founder and former CEO of the cryptocurrency platform BitMEXArthur Hayes, has petitioned a United States court to be excused from jail time.

Hayes, who pleaded guilty in February to evading anti-money laundering (AML) regulations while still running the exchange, has asked a federal judge in New York for a lenient sentence, not including jail time and allow you to travel freely. the news media Bloomberg reviewed.

According to the report, the former CEO’s attorneys filed a request for conditional freedom “no house arrest or community confinement. The request comes after legal representatives reached a plea agreement with prosecutors that would see Hayes sentenced to 6 to 12 months in prison, under federal rules.

The publication emphasizes that Hayes has applied to be able to travel and live freely abroad. The more than 60-page document submitted by the lawyers also included photographs and letters from his supporters, according to Bloomberg.

The case of BitMEX

as reported DailyBitcoin, Hayes and his co-founding partner, Benjamin Delo, pleaded guilty to violating the United States Bank Secrecy Act. At the beginning of the year, both recognized in a US court that they had operated the platform BitMEX without applying the pertinent AML measures, and allowing US residents to trade on the platform.

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The guilty plea was the end point of an extensive legal battle. Founded in 2014, BitMEX It came under intense regulatory scrutiny in 2019, when the Commodity Futures Trading Commission (CFTC) and the Financial Crimes Enforcement Network (FinCEN) accused the exchange and its founders of willfully evading US laws.

The case was settled in August 2021, after the company agreed to pay USD $100 million to settle the charges. Hayes, who resigned from his position as CEO of the company shortly after the charges were brought against him, had turned themselves in to authorities earlier that year, in April, along with Delo. Both paid $10 million bail each at the time to be released, as part of a pre-arranged agreement with prosecutors.

a compassionate sentence

In addition to requesting a lenient sentence for Hayes, the attorneys argued that “unlikely to be a repeat offender“. In the letter, they also argued that the co-founder’s conviction sets a precedent in the emerging area of ​​finance and markets in the United States, and could be used in future prosecutions of financial crimes related to cryptocurrency exchanges globally.

“This is a landmark case that has already had an extraordinary and well-publicized impact on Mr. Hayes’ personal life and the BitMEX business he co-founded”the representatives wrote in the letter, as quoted Bloomberg.

In an earlier letter, Hayes had acknowledged responsibility for his actions, saying that “looking forward to the time when I can put this matter behind me“.

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While their sentence has yet to be decided, a previous report from the US Department of Justice indicated that each of the co-founders could face a maximum sentence of 5 years in prison. The most recent report of Bloomberg He adds that the government has not yet submitted a sentencing recommendation. An The court’s verdict is expected by the end of this month.

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Article by Hannah Estefanía Pérez / DailyBitcoin

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