🚨 The father-son duo living in Maryland was sentenced to prison for dark web drug dealing and Bitcoin laundering.

• Joseph Farace, 72, was sentenced to 19 months in prison on January 8 for helping his son, Ryan Farace, 38, launder Bitcoin proceeds from drug sales.

• Previously convicted Ryan Farace was sentenced to 54 months in prison followed by 2 years of supervised release in a decision entered on January 5, 2023, in U.S. District Court in Maryland.

🔍 The incident was investigated by the anti-drug, tax office and local police. Ryan Farace obtained 9,138 Bitcoins by purchasing Bitcoins in exchange for the production and distribution of alprazolam tablets, known as "Xanax" in darknet markets.

• The father, Joseph Farace, conspired with his son to launder additional income through various financial transactions while he was in prison.

• In August 2020, Ryan Farace asked to transfer 2,874 Bitcoins to a third party for international banking purposes.

• In September 2020, Joseph Farace transferred the specified amount of Bitcoin to a third party, and the entire amount was seized by federal agents on February 10, 2021.

🔗 Additionally, on May 11, 2021, another 58.7 Bitcoins were seized in connection with Ryan Farace's drug trafficking. Ryan and Joseph Farace must abandon all Bitcoins seized during the investigation.