Florida Man Pleads Guilty in Credit Union Bitcoin Fraud Case
Michael Murgio agreed to plead guilty last week to one felony count involving his participation in a scheme in which a New Jersey credit union was used and controlled as a front to conceal an illegal Bitcoin operation.
According to a letter from the U.S. Attorney’s office in New York to Murgio’s attorney in early October, federal prosecutors said they will accept Murgio’s guilty plea to conspiracy to obstruct an examination of a federal financial institution.
In court documents, federal prosecutors alleged Murgio, Lebedev and Anthony Murgio made more than $150,000 in bribes to Trevon Gross, former board chair of the conserved Helping Other People Excel Federal Credit Union of Lakewood, N.J.
Michael Murgio allegedly negotiated with Gross, who is also a pastor at Hope Cathedral in Jackson, N.J., to place individuals on the board from the Coin.mx organization. This allowed the company to control the credit union and conceal its Bitcoin operations, according to court documents.