U.S. authorities will gain $16 million from seized Bitcoins sales

Federal court, in Toledo, will receive a massive amount of money as a fine charge against a fraudulent case on a man of Toledo.

According to a report of toledoblade.com, a federal court In Toledo Ohio seized Bitcoins about two years ago. 

After that this case was going on and now at this end the person who was involved in this fraudulent activity surrendered himself for this fraud. 

The criminal case was against a person, Mark Alex Simon, who is 37 year old. Since he surrendered now with all clear explanations about what he did in the past. So everything is sorted.

Now the Federal court will sell the seized bitcoin amounts to return the Investment of people who were victims.

Over a 2 year time interval, the worth of bitcoin surged by 6 times.

So now there is a huge amount of money that the court will get through the sale of bitcoin.

Since penalty and fine  against  Mark Alex Simon is usual, but the whole fine/penalty  money will be compensated by the bitcoin sale.

When Mark surrendered himself then the worth of the bitcoin that he collected was $2,877,351.29.

Now after two year, its total worth is 6 times more, that means now after the sale court will get  $16 million more than what the actual worth was in 2019.

According to history reports, Bridget Brennan who is U.S attorney stated that 

“It is the most significant net forfeiture in the history of the United States District Court for the Northern District of Ohio”

Here is one thing we can notice, not only investors are making money with Bitcoin but all government authorities are directly and indirectly engaged in Bitcoin and taking lots of benefits.

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