Man Jailed for “Pyramid of Lies” to Boost Business

NEW YORK (AP) – A Florida man has been sentenced to 5 1/2 years in prison by a New York judge who says he used a “pyramid of lies” to boost a business that helped criminals process illegal bitcoin transactions.

Tampa resident Anthony Murgio pleaded guilty earlier this year and was sentenced Tuesday.

Manhattan federal Judge Alison Nathan says the victims included a credit union that served a low-income community in Lakewood, New Jersey.

Murgio cried while apologizing for involving friends and family, including his father. His father is a former Palm Beach County, Florida, school board member who also pleaded guilty in the scheme.

Prosecutors say Murgio processed more than $10 million in illegal bitcoin transactions from April 2013 through July 2015.

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