GRAND RAPIDS, Mich. – Former Geek Group leaders were formally charged in connection with alleged illegal Bitcoin trading and money laundering, according to an indictment filed Feb. 24 in the U.S. District Court in Grand Rapids.
The indictment lists Christopher Allan Boden, Leesa Beth Vogt and Daniel Reynold Dejager as defendants.
The value of Bitcoin allegedly sold was more than $ 700,000.
Geek Group leaders opened a bank account to store and transfer revenue from the sale of Bitcoin, which was then used to buy more Bitcoin.
Customers were recruited in part through a sign published in Geek Group’s window.
Prosecutors, however, claim that the group never registered The Geek Group as a money transfer business and thereby violated the law.
In addition, some of the funds were used to buy or derive from selling controlled substances, according to the indictment.
And in some cases, Boden knew that the customer he was selling Bitcoin to would use the currency to engage in illegal activities.
Federal officials raided The Geek Group two years ago in December 2018.
Read the full indictment here.