Ilya Lichtenstein and Heather Morgan, known as the “Bitcoin Bonnie & Clyde,” are reportedly preparing to plead guilty for their involvement in an alleged cryptocurrency laundering scheme worth $4.5 billion.
The couple was charged with money laundering and conspiracy to defraud in the United States in February 2022, related to the laundering of 119,754 bitcoins stolen from Hong Kong’s Bitfinex in 2016.
In a recent court filing, it was revealed that Lichtenstein and Morgan have been newly charged with a document called an “information,” which outlines criminal charges similar to an indictment but does not require a grand jury’s vote. This suggests that they may have agreed to plead guilty, and federal prosecutors commonly use such documents in such cases.
“Bitcoin Bonnie & Clyde” gets Hollywood attention – Read more
The alleged cryptocurrency laundering scheme was a complex operation, and the couple is accused of attempting to move a vast sum of money through digital assets while concealing its origin.
The value of the stolen bitcoins significantly increased over time, with 119,754 bitcoins now worth nearly $3.6 billion.
Lichtenstein, a Russian emigre, has been in a Washington, D.C., jail since his arrest, while Morgan, a rapper known as “Razzlekhan,” is out on a $3 million bond.
If found guilty, the couple could face up to 25 years in prison, but the potential impact of a plea deal on their sentence remains uncertain.
Morgan has been on 24-hour house arrest in a Wall Street high-rise and sought remote work opportunities, specifically in B2B growth, marketing, sales, copywriting, and demand generation.
She has been granted permission to work from her employer’s New York office three days a week, with monitoring software installed on her computer and smartphone.
McDonald’s plans massive expansion with 9,000 new burger joints by 2027
Fast-food giant McDonald’s has unveiled an ambitious plan to open nearly 9,000 new burger joints across the globe by 2027.
The move comes as part of the company’s aggressive growth strategy to maintain its dominance in the competitive fast-food industry.
McDonald’s, known for its iconic golden arches, currently operates over 38,000 restaurants in more than 100 countries.
With this expansion, the company aims to tap into emerging markets while also strengthening its presence in existing ones. The plan includes opening new outlets in urban centres, shopping malls, and even smaller towns, catering to a diverse range of customers.
The expansion drive is expected to create thousands of jobs, from front-line crew members to management positions, offering economic opportunities in various communities.
Furthermore, McDonald’s will continue to focus on sustainability, with commitments to reduce its environmental footprint through eco-friendly practices and packaging.
As the fast-food giant prepares to embark on this ambitious journey, the focus keyword for Google SEO is “McDonald’s expansion.”
Citigroup’s enormous billion dollar restructuring cost revealed
Citigroup, one of the world’s largest financial institutions, is undergoing a significant restructuring effort that comes with a hefty price tag of $1 billion.
However, this massive overhaul is now anticipated to extend beyond the current quarter and will likely stretch into the next.
The restructuring plan, which was initially expected to conclude this quarter, involves a comprehensive review of Citigroup’s operations, aiming to streamline its business processes and enhance efficiency. The bank has been facing mounting pressure to adapt to changing market conditions and technological advancements.
The delay in completing the restructuring has raised concerns among investors, as the prolonged uncertainty can impact the bank’s financial performance. Citigroup’s leadership remains committed to the plan, emphasising the importance of getting it right rather than rushing through the process.
Despite the cost and delay, Citigroup remains optimistic about the long-term benefits of the restructuring, which include improved profitability and competitiveness in the financial sector.
British American Tobacco issues warning on future of U.S. brands
British American Tobacco (BAT) has raised concerns about the long-term viability of its US-based cigarette brands, marking a significant shift in its outlook on the American market.
The company is now planning a massive $31.5 billion writedown, reflecting its dim view of the future prospects for these brands.
BAT, one of the world’s leading tobacco companies, has traditionally maintained a strong presence in the US market through brands like Newport and Camel. However, changing consumer preferences, stricter regulations, and the rise of alternative tobacco products like e-cigarettes have put pressure on the traditional cigarette industry.
The company’s decision to write down the value of its US brands highlights the challenges it faces in a market that is evolving rapidly. BAT is expected to focus more on the development and marketing of reduced-risk products and alternative nicotine delivery systems.
This strategic shift may have significant implications for BAT’s future operations and the broader tobacco industry. It remains to be seen how the company will navigate this changing landscape and whether it can adapt to the shifting preferences of consumers.
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