Roman Storm Found Guilty of Operating Unlicensed Money Transmitting Business
Roman Storm, a developer of Tornado Cash, has been found guilty of operating an unlicensed money transmitting business by a Manhattan jury.
- The jury did not reach a verdict on conspiracy to commit money laundering and conspiracy to violate international sanctions after four days of deliberations.
- Storm was arrested in 2023 for allegedly aiding cybercriminals, including North Korea's Lazarus Group, to launder over $1 billion through Tornado Cash.
- Prosecutors sought Storm's remand to prison pending sentencing due to flight risk concerns, citing his background and financial means.
- Storm's lawyers argued he is not a flight risk, noting family ties and that he surrendered his passport.
- Judge Katherine Polke Failla ruled against remanding Storm, stating he has incentives to remain and fight the conviction.
- Amanda Tuminelli from the DeFi Education Fund criticized the conviction as fundamentally flawed and noted disappointment over the jury's deadlock on the other charges.
- The case follows a similar recent incident where developers of Samourai Wallet pleaded guilty to operating an unlicensed money transmitting business.