Odaily News On November 22, 2024, a Lancaster, Massachusetts man was convicted after a five-day jury trial for participating in an unlicensed money transmitting business that exchanged cash for Bitcoin for an individual allegedly involved in the illegal trafficking of counterfeit goods, the U.S. Department of Justice announced. Alan Joseph, 36, was found guilty of one count of operating an unlicensed money transmitting business and three counts of money laundering. Sentencing is scheduled for February 24, 2025 by U.S. District Judge Margaret R. Guzman. Joseph was criminally charged and arrested in February 2021 and subsequently indicted by a federal grand jury in March 2021. "Criminals relied on the money laundering operation operated by Alan Joseph to conceal their proceeds, helping criminal enterprises evade detection, increase profit margins and avoid tax liabilities," said Special Agent in Charge Michael J. Krol of Homeland Security Investigations New England.