Meet Gary and Larry Harmon, two brothers from Ohio who, up until recently, were seemingly your run-of-the-mill siblings. 👬
Larry Dean Harmon, the older of the two brothers, found himself in hot water when he was arrested in February 2020. According to the Justice Department, Larry had been operating a coin-mixing service called Helix, which processed over 350,000 $BTC between 2014 and 2017.
In 2021, Larry Dean Harmon pleaded guilty to charges of money laundering conspiracy and the improper transmission of money. The Financial Crimes Enforcement Network (FinCEN) made an example of him, hitting him with a staggering $60 million penalty – the first of its kind against a Bitcoin mixer.
Enter Gary James Harmon, the younger sibling who saw an opportunity in his brother’s misfortune. 😈
After Larry’s arrest, Gary seized the chance to pilfer 712 Bitcoin from his brother’s digital stash. At the time, this haul was worth around $4.8 million, but today, it’s valued at a staggering $21 million. 😱
Authorities soon caught wind of Gary’s illicit activities. He had managed to send himself the 712 Bitcoin by recreating wallets with his brother’s credentials on a cryptocurrency storage device that was initially inaccessible due to security features. Gary then proceeded to launder the stolen assets through two other online mixing services.
Facing criminal charges, Gary James Harmon pleaded guilty in January to one count each of wire fraud and obstruction of justice. The combined charges carried a potential 40-year prison sentence. Ultimately, Gary was handed a prison term of four years and three months for his role in the sibling Bitcoin swindle.
As part of his plea deal, Gary agreed to forfeit ill-gotten assets, including 17.4 million $DOGE, around 647 Bitcoin, and just over 2 $ETH. Altogether, the Justice Department valued these cryptocurrencies at over $20 million. 💸