By Bitcoinist - 5 months ago - Reading Time: 2 minutes
Crypto Cover-Up Allegations: Oracle Employee Accused Of Assisting Drug Dealers With $54M, DOJ Claims
According to a Forbes report, Brian Krewson, an Oracle technical, has come under scrutiny after being accused by the US Department of Justice (DOJ) of assisting in the alleged storage and laundering of $54 million worth of cryptocurrency for two convicted drug traffickers.
The allegations draw parallels to Krewson’s resemblance to Walter White, the infamous character from “Breaking Bad.”
While Krewson has not been charged with a federal crime, his connection to the case raises questions about his involvement in the illicit activities of his friends, Christopher Castelluzzo and Luke Atwell.
Oracle Employee Involved Crypto Money Laundering Operation
Per the report, Castelluzzo and Atwell, before their sentencing of 21 and 19 years respectively, were engaged in a lucrative narcotics trafficking business, selling millions of dollars worth of cocaine monthly.
Investigators discovered that Atwell attempted to conceal his crypto proceeds, acquired from dark web drug sales on platforms like the Blue Sky market. Atwell claimed to have used some funds to purchase 30,000 Ethereum (ETH), initially valued at $9,000 but now worth over $54 million.
Allegedly, Krewson was promised a share of the cryptocurrency for assisting in its concealment from law enforcement.
Despite Krewson’s assurances regarding the security of the crypto wallets, he provided the wallet password to law enforcement during a raid on his residence in July of the previous year. This allowed the authorities to transfer all the seized funds to a DOJ wallet.
Colorado Court Rejects Appeal To Return Seized Funds
Forbes reported that Castelluzzo attempted to appeal to a Colorado court to have the seized funds returned, claiming they were not derived from criminal activities but instead belonged to him and a company called Broken Wings Holdings, which he operated with Krewson and Atwell for cryptocurrency trading on the Bitrix exchange.
However, the court rejected the appeal, and the DOJ recently announced the seizure of the funds through its New Jersey branch.
Given these developments, Brian Krewson finds himself entangled in a high-profile case involving the storage and laundering of $54 million worth of cryptocurrency for convicted drug traffickers. Despite not being charged with a federal crime, his connections to the case have raised suspicions about his involvement in illicit activities.
As the legal proceedings continue, the outcome will determine Krewson’s level of accountability in the alleged crypto money laundering operation.
As of the current update, the total market capitalization of the cryptocurrency market has reached the $1.303 trillion mark. This notable surge indicates a substantial upward trend, reflecting the growing interest and investment in the emerging industry.
Over the past 24 hours, the market has experienced a modest increase of 0.4%, accompanied by a significant trading volume of $45 billion.
Featured image from Shutterstock, chart from TradingView.com
Original source: Bitcoinist