One of the co-founders of the embattled digital currency derivatives exchange BitMEX has surrendered to the U.S. authorities. Benjamin Delo appeared before a New York judge and pleaded not guilty to all charges against him. The British computer programmer traveled from the U.K. to surrender to American authorities after his legal team engaged in negotiations with U.S. attorney Jessica Greenwood over his surrender.
Benjamin Delo was released on a $20 million bail bond.
According to transcripts of a court teleconference, the attorney was working with the FBI and Border Patrol to make the surrender possible. The U.S. authorities also had to find a way to work around a travel ban the U.K government had imposed on Delo. According to the Bloomberg report, Delo appeared before Judge Sarah Cave of the Southern District of New York in a remote proceeding. He pleaded not guilty and was released on a $20 million bail bond. Under the terms of the bond, Delo can travel back to the U.K. and return to the U.S. only when called upon by the court.
BitMEX co-founder faces charges of operating an unregistered trading platform.
Delo faces charges of operating an unregistered trading platform and violating the Bank Secrecy Act. The Justice Department claims that he, together with Arthur Hayes and Sam Reed, allowed U.S. citizens to use BitMEX without observing anti-money laundering laws. The Commodity Futures Trading Commission (CFTC) also pressed similar charges, in addition to further violations under the Commodity Exchange Act. Arthur Hayes, the former CEO, is expected to follow suit and surrender to U.S. authorities on April 1. Greenwood said Hayes would travel to Hawaii from Singapore, where he is currently residing.