{"id":49527,"date":"2021-09-15T17:56:32","date_gmt":"2021-09-15T14:56:32","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=49527"},"modified":"2025-09-02T13:05:16","modified_gmt":"2025-09-02T10:05:16","slug":"former-bitmex-executive-agrees-to-extradition-to-the-united-states","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/former-bitmex-executive-agrees-to-extradition-to-the-united-states\/","title":{"rendered":"Former BitMEX executive agrees to extradition to the United States"},"content":{"rendered":"

Gregory Dwyer, the former BitMEX head of business development who resides on Bermuda, has agreed to extradition to the United States to stand trial. The Royal Gazette<\/a> reports.<\/p>\n

In October 2020, the US Department of Justice charged the co-founders Arthur Hayes, Ben Delo, Samuel Reed, and also Dwyer<\/a> with violations of the Bank Secrecy Act.<\/p>\n

In its conclusion, the department stated that the defendants \u201cdeliberately failed to create, implement, and maintain an adequate anti-money-laundering program, including a customer identification system commonly known as KYC<\/span>.\u201d<\/p>\n

Reed was arrested in the United States, but he was released on $5 million bail<\/a>.<\/p>\n

Delo, who was in the United Kingdom, surrendered to U.S. authorities in March<\/a> 2021. Hayes flew from Singapore to Hawaii<\/a> in April, having previously agreed to the terms<\/a> of voluntary surrender. The court also released both on bail. Hayes\u2019 bail was $10 million, and Delo\u2019s was $20 million.<\/p>\n

The extradition request for Dwyer was sent to Bermuda in July. The Magistrates’ Court ruled that he would be extradited if Bermuda’s overseas-territory governor Rena Lalgie approves the decision.<\/p>\n

Judge Hamisi Tokunbo also extended the defendant’s bail to $20,000.<\/p>\n

\n

\u201cMy client continues to cooperate with the government to ensure a smooth process for his appearance in New York, and has every intention of defending himself against unfounded charges,\u201d said Jerome Lynch, the attorney representing Dwyer.<\/p>\n<\/blockquote>\n

Separately from the DOJ charges, the US CFTC filed a civil suit against the exchange and affiliates. The defendants were Hayes, Reed, and Delo.<\/p>\n

The agency accused them of operating an unregistered trading platform and violating KYC\/AML rules.<\/p>\n

In August, BitMEX settled the dispute with the CFTC<\/a>, agreeing to pay a $100 million penalty and undergo independent audits.<\/p>\n

Preliminary hearings in the DOJ suit in New York were scheduled for March 28, 2022<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Gregory Dwyer, the former BitMEX head of business development who resides in Bermuda, has agreed to extradition to the United States to face trial. The Royal Gazette reports.<\/p>\n","protected":false},"author":1,"featured_media":49528,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[788,1162,26],"class_list":["post-49527","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitmex","tag-court-cases","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"28","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/49527","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=49527"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/49527\/revisions"}],"predecessor-version":[{"id":49529,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/49527\/revisions\/49529"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/49528"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=49527"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=49527"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=49527"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}