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3 plead guilty to wire fraud in virtual currency operation

By The Associated Press - | Apr 19, 2022

CONCORD, N.H. (AP) — Three people have pleaded guilty to wire fraud in opening accounts at financial institutions in their names or in the names of churches to allow another person to use the accounts to sell virtual currency.

They pleaded guilty in federal court last week and await sentencing in July. Additional counts of wire fraud and conspiracy were dropped as part of a plea agreement.

Two admitted to opening accounts in the name of the Crypto Church of NH, and the Church of the Invisible Hand. The accounts were not used by churches, but by Ian Freeman to trade virtual currency, prosecutors said. The third person signed blank checks and gave Freeman the login information or those accounts, they said.

“Each of the defendants was aware that banks would close these accounts if the banks knew the accounts were used to operate an unlicensed virtual currency business,” the U.S. attorney’s office said in a news release Monday.

Freeman and two others are scheduled for trial on Nov. 1. He’s pleaded not guilty to charges of wire fraud, money laundering, operating a continuing financial crimes enterprise, and operating an unlicensed money transmitting business.

Freeman is a leader of the libertarian Free Keene group and hosts a radio show.

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