Samourai Wallet Co-Founder Pleads Not Guilty to Money Laundering Charges
![Samourai Wallet Co-Founder Pleads Not Guilty to Money Laundering Charges](https://coinspress.com/wp-content/uploads/2023/02/prison-cell-915x600.webp)
Keonne Rodriguez, the co-founder of Samourai Wallet, entered a not guilty plea in a Manhattan courtroom to charges related to the development and promotion of the privacy-focused bitcoin wallet and mixing service.
Alongside his co-founder, William Lonergan Hill, Rodriguez faces allegations of conspiracy to commit money laundering and operating an unlicensed money transmitting business. These charges carry significant potential penalties, with sentences of up to 20 years and five years, respectively.
The prosecution alleges that Samourai Wallet facilitated over $100 million in money laundering transactions connected to illegal dark web markets and around $2 billion in unlawful transactions overall. This follows the recent seizure of Samourai Wallet’s servers. The arrests and shutdown of Samourai Wallet have sparked concern within the crypto community, with many interpreting the move as a broader attempt by the U.S. government to criminalize financial privacy tools.
Rodriguez was arrested at his home in Harmony, Pennsylvania, early on April 24 and was initially released on a $25,000 bond by a Pennsylvania judge. He was ordered to appear before a magistrate judge in the Southern District of New York (SDNY), where Magistrate Judge Barbara Moses later set his bond at $1 million.
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This bond is secured by real estate in Pennsylvania and guaranteed by the signatures of his wife and another family member. Rodriguez is required to remain at home under location tracking, except when traveling to and from court proceedings.