Former BitMEX CEO Arthur Hayes Tries to Avoid Jail Time and Asks Judge for Leniency
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Former BitMEX CEO Arthur Hayes Tries to Avoid Jail Time and Asks Judge for Leniency

3 months ago

His legal team has submitted documents including a letter for his mother that requests leniency — months after he pleaded guilty to violating the Bank Secrecy Act.

Former BitMEX CEO Arthur Hayes Tries to Avoid Jail Time and Asks Judge for Leniency

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A crypto executive 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're warning that this case will set a precedent for prosecuting financial crimes at crypto exchanges worldwide.

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

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