Former BitMEX CEO Arthur Hayes Tries to Avoid Jail

2022/05/06By:

Months after Arthur Hayes pleaded guilty to violating the Bank Secrecy Act, his legal team has filed documents, including a letter to his mother asking for leniency.

 

Former BitMEX CEO Arthur Hayes who has pleaded guilty to violating the Bank Secrecy Act is trying to avoid being sent to jail.

 

Former BitMEX CEO Arthur Hayes has asked a judge for leniency — and he also wants the freedom to live abroad and travel.

 

His legal team has submitted documents including a letter for his mother that requests leniency.

 

Hayes previously admitted that BitMEX, a crypto trading platform, had operated with poor anti-money laundering checks in place.

 

He’s already agreed to pay a fine of $10 million — and signed a plea deal that means he faces six to 12 months behind bars.

 

But his lawyers are now arguing that Hayes is unlikely to be a repeat offender, and they warn that the case will set a precedent for prosecuting financial crimes at cryptocurrency exchanges around the world.

 

Hayes is due to be sentenced by a judge in Manhattan later this month.

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