Donald Greene II, 36, of Cleveland is charged in federal court with operating an illegal cryptocurrency exchange.
Donald G. Greene III had no license to operate a currency exchange and did so to avoid paying fees associated with currency exchanges, according to court records. He kept about 12% to 28% of each transaction for himself, according to authorities.
Greene operated the bitcoin exchange from about February to September 2022. He had five main clients, all from India, who funneled him $3 million to exchange, according to court records. The second option allowed Greene to avoid paying transaction fees from the banks and prevented them from detecting that he was operating a money transmitting business, according to court records.
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