Roman Storm Guilty of Unlicensed Money Transmitting Conspiracy in Partial Verdict
The post Roman Storm Guilty of Unlicensed Money Transmitting Conspiracy in Partial Verdict appeared on BitcoinEthereumNews.com.
NEW YORK — Tornado Cash developer Roman Storm has been found guilty of conspiring to operate an unlicensed money transmitting business, a Manhattan jury decided Wednesday. The jury was unable to reach a unanimous verdict on the remaining charges, conspiracy to commit money laundering and conspiracy to violate international sanctions, despite four days of deliberations after the three-week trial. A sentencing date has not yet been set, and it is currently unclear whether prosecutors will elect to re-try Storm on the remaining charges. Prosecutors told the court on Wednesday afternoon that they will confer internally and decide. “We are grateful the jury did not convict Roman for violating sanctions or laundering money,” said Brian Klein, a partner at Waymaker LLP and a lawyer for Storm. “There are serious legal issues with the sole remaining count involving unlicensed money transmission. We will not stop fighting for Roman and expect him to be fully vindicated.” Storm was arrested in 2023 and charged with helping hackers and other cyber criminals, including North Korea’s famed hacking squad, the Lazarus Group, launder more than $1 billion in dirty money through Tornado Cash, the crypto privacy tool he helped develop. “Today's verdict is a mixed bag for crypto,” said Alex Urbelis, general counsel for the Ethereum Name Service. “The hung jury shows real skepticism about the money laundering and sanctions charges, but I’m disappointed by the conviction for operating an unlicensed money transmitter. This is a complex area where legal nuance and technical understanding matter. I’m not convinced the jury fully understood the crucial divide between custodial and non-custodial systems—a distinction that, if properly recognized, should make a conviction here impossible.” After the jury read the verdict, prosecutors moved for Storm, who is currently out on bail, to be remanded to prison to await sentencing, arguing that…
