GRAND RAPIDS, Mich. — Former Geek Group leaders were formally charged in connection to alleged illegal Bitcoin trading and money laundering, according to an indictment filed Feb. 24 in the U.S. District Court in Grand Rapids.
The indictment lists Christopher Allan Boden, Leesa Beth Vogt and Daniel Reynold Dejager as defendants.
The value of the Bitcoin allegedly sold was more than $700,000.
Geek Group leaders opened a bank account for the purpose of storing and transferring proceeds from the sale of Bitcoin, which were then used to purchase more Bitcoin.
Customers were recruited in part through a sign posted on the Geek Group’s window.
However, prosecutors allege the group never registered The Geek Group as a money transmitting business, thereby breaking the law.
In addition, some of the funds involved were used to purchased or derived from selling controlled substances, according to the indictment.
And in some cases, Boden allegedly knew the customer he was selling Bitcoin to would use the currency to engage in illegal activities.
Federal officials raided The Geek Group two years ago in December 2018.
Read the full indictment here.