William Green – a US citizen living the New Jersey – has received indictment from the federal grand jury, with charges against operating an unregistered money transmission business.

As stated via a press release by the US DoJ on July 24, Green was the establisher and administrator of Destination Bitcoin – a web page dedicated to converting fiat money to Bitcoin (BTC). Clients would consequently entrust Green with their fund, to convert it into BTC. The court further revealed that Green has failed to obtain a legal license the Secretary of the United States Treasury.

As pointed out by the document, any individual is required to be licensed by the Secretary of the Treasury, in order to legally operate a money transmitting service. 

As for the monetary quantities and compensation, the indictment stated that more than $2 million worth of fiat fund has been converted into Bitcoin (BTC). Additionally, the highest level of penalty Green can receive is 5 years worth of jail time and a $250,000 fine.

As revealed by the DoJ, Green has been previously brought to court with the same above-mentioned allegations, filed on February 28.