Crypto Bros Argue Trump Policy Shift Means $25M Fraud Case Should Be Tossed
Two brothers, Anton and James Pepaire-Bueno, charged with stealing $25 million in Ethereum, are seeking to dismiss their case based on new DOJ crypto policies. The DOJ accused them of exploiting Ethereum's transaction validation process for theft, initially charging them with wire fraud and money laundering, later adding conspiracy to receive stolen property. Their attorneys argue that a recent DOJ memo, which states the department is not a digital assets regulator and will halt certain crypto-related prosecutions, undermines the legal basis for their charges. They claim that if the DOJ cannot classify crypto assets as property, the charge of conspiracy to receive stolen property is invalid. U.S. District Judge Jessica G.L. Clarke will decide on the motion to dismiss. The memo has raised questions about its implications for other ongoing crypto-related criminal cases, including that of Roman Storm, accused of aiding North Korea in laundering digital assets.
