NEWARK, NJ — A New Jersey man has been sentenced to 12 years in federal prison for orchestrating an international drug conspiracy that relied on Bitcoin payments to purchase massive quantities of fentanyl and fentanyl analogues from suppliers based in China. The sentencing was announced by the U.S. Attorney’s Office for the District of New Jersey.
The defendant, identified as Michael J. Chen, 35, of Paramus, pleaded guilty last year to conspiracy to distribute controlled substances and money laundering. According to evidence presented during the proceedings, Chen utilized sophisticated methods, including encrypted communication platforms and cryptocurrency exchanges, to facilitate his illicit trade between 2018 and 2021.
Chen was found responsible for transferring hundreds of thousands of dollars worth of Bitcoin to Chinese chemical manufacturers to secure bulk shipments of fentanyl. By using the digital currency, Chen sought to evade traditional banking regulations and obscure the financial trail connecting him to the international drug trade. The purchased narcotics were subsequently shipped to various drop locations in New Jersey and New York for domestic distribution.
U.S. Attorney [Placeholder Name] stated, “This sentence delivers a powerful blow to those who believe cryptocurrency offers a shield against prosecution for deadly crimes. Mr. Chen deliberately used the anonymity of Bitcoin to fuel the importation of lethal fentanyl, directly contributing to the opioid crisis plaguing our communities. We remain committed to working with our partners, including the DEA and IRS Criminal Investigation, to trace and dismantle these digital supply chains.”
In addition to the 12-year prison sentence, Chen was ordered to forfeit all proceeds derived from the conspiracy and will serve five years of supervised release following his incarceration.
Source: New Jersey Man Sentenced to 12 Years for Using Bitcoin to Pay Chinese Fentanyl Suppliers
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