- June 25, 2021
- Posted by: Stratford Team
- Category: Business
NEW ORLEANS – U.S. Attorney Duane A. Evans announced that MICHAEL YUSKO, III, age 46, a resident of New Orleans, was charged yesterday in a bill of information with operating an unlicensed money transmitting business, in violation of Title 18, United States Code, Section 1960.
Under federal law, any business that engages in “the acceptance of currency, funds, or other value that substitutes for currency from one person and the transmission of currency, funds, or other value that substitutes for currency to another location or person by any means” is deemed to be a money transmitting business. Such businesses include those that trade fiat currency, such as U.S. dollars, for cryptocurrency, such as Bitcoin, Litecoin, and Ethereum. These companies must register with the Financial Crimes Enforcement Network (“FinCEN”) as money transmitting businesses.
According to court documents, YUSKO was the owner and manager of Nervous Light Capital LLC….