Larry Harmon, arrested in 2020 for assisting criminals in money laundering through the Helix cryptocurrency mixer, has been sentenced to three years in prison. District Court Judge Beryl Howell noted the leniency due to his assistance in the Bitcoin Fog case.
Sentencing Details
Harmon faced a potential 20-year sentence. The government recommended 75 months, but the court settled on three years. In 2020, the Treasury's Financial Crimes Enforcement Network fined him $60 million. He was also ordered to forfeit over $311 million in cash, cryptocurrencies, and other assets.
The Bitcoin Fog Case
Harmon assisted prosecutors in the case against Roman Sterlingov, operator of Bitcoin Fog, sentenced to 12.5 years. Harmon was also accused of moving over 350,000 BTC through Helix. Arrested in February 2020, he pleaded guilty in August the following year.
Additional Charges and Arrests
After Harmon's arrest, the IRS seized his hard wallets. His younger brother Gary used Larry's passwords to transfer 712 BTC to his own accounts. Gary was arrested in July 2021, sentenced to four years for wire fraud and obstruction of justice.
Larry Harmon's case exemplifies the justice system's efforts to combat the illicit use of cryptocurrencies. His cooperation in the Bitcoin Fog case significantly impacted his sentencing, while consequences for him and his family remain substantial.
