BitMEX co-founder Benjamin Delo sentenced to 30 months probation

BitMEX co-founder Benjamin Delo has been sentenced to 30 months probation without home confinement.

Delo was found guilty of Bank Secrecy Act (BSA) violations.

In the fall of 2020, the US accused Delo and co-founders Arthur Hayes and Samuel Reed of “evading US anti-money laundering requirements” in activities related to their crypto exchange, BitMEX.

Hayes and Delo plead guilty to one count each of violating the BSA.

Violating the BSA carries a maximum of five years in prison.

Hayes evaded jail time, but received six months home detention as part of a two-year probationary period.

Judge John G. Koeltl sentenced Delo to 30 months probation without home confinement.

The sentencing is a resolution to all of Delo’s regulatory cases relating to BitMEX.

Delo’s legal team submitted a letter requesting a probationary sentence to be served in Hong Kong, where Delo resides, with no fine or jail time.

Both Hayes and Delo have already paid $10 million each in civil monetary penalties to the Commodity Futures Trading Commission as part of a parallel civil action against them.