Michigan-based non-profit organization was seized by the FBI for performing unauthorized crypt trading.
The Federal Bureau of Investigation (FBI) raids the office of a non-profit tech organization in Michigan for commercially trading cryptocurrency without proper authorization.
The president of the National Science Institute, or formerly known as The Geek Group, Chris Boden opened up about the matter as well as the legal problems he’s going to face on YouTube.
“I did a stupid thing, I made a bad decision, so I’m going to pay for it,” he said as quoted by WoodTV.
The man believes that he’s looking at federal prison and that he will likely to spend more than $100,000 in legal expenses, although the FBI officials refused to comment on the charges Boden is facing.
And despite the explicit language he used, Boden took the blame and stated that he’s fully responsible for everything that happened.
Moreover, he also mentioned his plan to sell all the businesses’ assets, probably to fund the incurring legal cost.
To recap, the FBI seized the computers, hard drives and other equipment from the National Science Institute office in Grand Rapids, Michigan just 10 days before the year ended.
The seizure was conducted in cooperation with the Homeland Security, following an investigation that reveals Boden’s unauthorized crypto trading on the office that’s supposedly used as a workspace that acts as incubator for local startups and provides low-cost computers for the public.