Bitcoin ATM Operator Indicted in New York Allegedly Running Illegal Business Attracting Criminals
Between 2017 and 2018, the 35-year-old “converted more than $5.6 million of his customers’ cash into bitcoin while charging a fee of between 10% and 20%,” the district attorney detailed. Bragg described, “Robert Taylor allegedly went to great lengths to keep his bitcoin kiosk business as secret as possible to attract a clientele that would pay top dollar for anonymity,” elaborating:
Forensic analysis showed that more than $5.6 million in cash was deposited into Taylor’s bitcoin ATMs between September 2017 and November 2018. More than $590,000 in fees were collected and approximately $160,000 were deposited into Taylor’s personal bank accounts.
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