Matthew Gillum, Money Laundering, California 2024

SACRAMENTO, Calif. — Matthew Gillum, a 40-year-old former resident of Loomis, California, has been charged with serious crimes.

Gillum was indicted on nine counts of engaging in monetary transactions in property derived from specified unlawful activity, U.S. Attorney Phillip A. Talbert announced.

According to court documents, Gillum was convicted in the Eastern District of California in 2014 of a federal drug trafficking offense. He used the Silk Road website to solicit drug orders and receive payment in Bitcoin.

After completing his 108-month prison sentence, Gillum attempted to launder the drug trafficking proceeds through the legitimate financial system.

The case is the product of an investigation by the Federal Bureau of Investigation and the IRS Criminal Investigation with assistance from the U.S. Postal Inspection Service, the U.S. Customs and Border Protection, and the Sacramento County Sheriff’s Office.

If convicted, Gillum faces a maximum statutory penalty of 10 years in prison and a $250,000 fine, or twice the amount of money laundered. Any sentence, however, would be determined at the discretion of the court after consideration of any applicable statutory factors and the Federal Sentencing Guidelines.

The charges are only allegations; the defendant is presumed innocent until and unless proven guilty beyond a reasonable doubt.

Source: https://www.justice.gov/usao-edca/pr/silk-road-drug-trafficker-charged-laundering-drug-proceeds-through-cryptocurrency