Larry Harmon, an Ohio man who laundered over $300 million in Bitcoin for drug traffickers and criminals, has been sentenced to three years in prison. Despite the severity of his crimes, Harmon received a lighter sentence due to his cooperation with U.S. authorities.
Harmon operated Helix, a darknet cryptocurrency “mixer” that concealed transaction trails, making it easier for criminals to move money anonymously. Prosecutors highlighted that Helix enabled hundreds of drug dealers to evade detection while facilitating the transfer of millions in illegal funds.
Source: X U.S. District Judge Beryl Howell acknowledged the gravity of Harmon’s actions, describing his money laundering operation as “large-scale” and “long-running.” However, she granted leniency due to Harmon’s assistance in prosecuting other cases and his decision to shut down Helix two years before his 2020 arrest.
In addition to his prison sentence, Harmon received three years of supervised release and was ordered to forfeit assets, including a $311,145,854 money judgment. The forfeited assets also encompass cryptocurrencies, real estate, and monetary holdings valued at over $400 million. Previously, he faced a $60 million fine from the U.S. Treasury Department.
Harmon expressed regret for his actions, admitting he allowed “greed to take over.” His testimony helped convict Roman Sterlingov, the operator of another Bitcoin mixer, Bitcoin Fog, who was sentenced to over 12 years in prison.
The case took a twist when agents discovered Harmon’s brother, Gary, had stolen $5 million worth of Bitcoin from an IRS evidence locker. Gary used the funds for lavish purchases and was sentenced to four years in prison.
