Olumide Osunkoya was sentenced today to four years in prison for illegal crypto activity worth over £2.5 million and associated offences.
Mr Osunkoya pleaded guilty on 30 September 2024 to 5 charges.
Between 30 December 2021 and 12 March 2022, Mr Osunkoya operated crypto ATMs at 28 different locations via his company, GidiPlus Ltd, despite being refused registration with the UK Financial Conduct Authority (FCA). It is illegal to operate crypto ATMs in the UK without FCA registration.
Mr Osunkoya later transferred the machines from GidiPlus Ltd and personally operated a reduced network of up to 12 crypto ATMs under a false name and company to evade detection.
Mr Osunkoya failed to carry out the necessary checks to ensure that the ATMs were not being used by criminals to launder…
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