U.S. District Court Judge Dabney L. Friedrich handed down the sentence, including three years of supervised release, forfeiture of 450 Bitcoin (plus any accrued interest) currently frozen at a crypto exchange in the U.K., and a $24 million forfeiture judgment.
Patel, who once ran an unlicensed online payments platform called Payza, had already been convicted in 2020 for processing illicit transactions linked to Ponzi schemes and money laundering operations.
As part of his 36-month sentencing, Patel was required to disclose and surrender all assets tied to his crimes.