A bitcoin trader on exchange platform LocalBitcoins and his father have been sentenced to prison terms after being convicted of running an unlicensed money transmission business.
The Department of Justice announced late last week that Michael Lord and his father, Randall Lord, were sentenced to 106 months and 46 months, respectively.
Both were charged with running an unlawful money business, while the younger Lord plead guilty to a narcotics distribution conspiracy charge. The two plead guilty last year.
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