Payza’s Firoz Patel has been sentenced to 41 months in jail for obstruction (~3 years and 5 months).
Patel pled responsible to obstruction in September 2024. The fees have been in relation to Patel stashing 450 bitcoin previous to starting his Payza jail sentence.
Patel pled responsible to Payza cash laundering costs in 2020. He was sentenced to 52 months in jail on these costs in November 2020.
Had he of not thought he was pulling a quick one in stashing the undeclared bitcoin, Patel would have been launched to freedom final yr.
Patel’s brother and associate in crime, Ferhan Patel, served his sentence and was launched in July 2022.
Along with serving one other forty-one months in jail, Firoz Patel can be topic to a February third preliminary forfeiture order.
The order authorizes forfeiture of Patel’s 450 bitcoin (value $43.8 million at time of publication), seized by the DOJ again in 2022.