The CEO of a cryptocurrency ATM company was arrested in Miami Beach on an Ohio warrant that accused him of conspiracy, money laundering and other charges.
Sonny Meraban, 45, was taken into custody at a home on Collins Avenue Wednesday afternoon, an arrest report said.
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According to the report, Meraban faces nearly five dozen charges for various counts including conspiracy, money laundering, receiving stolen property and over 30 counts of license requirement violations on a warrant out of Cuyahoga County, Ohio.
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Meraban is listed as the CEO of Bitcoin America, a virtual currency exchange registered as a money services business with the United States Department of Treasury.
Maraban appeared at an extradition hearing Thursday and will travel to Cuyahoga County to face the charges.
The Cuyahoga County prosecutor's office said the arrest is part of an operation resulting in indictments of people owning and operating cryptocurrency kiosks.
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Investigators said there were 54 search warrants, 52 bitcoin machines and three arrests in the operation headquartered in Illinois.
The allegation is that the ATMs were operating without a license, taking cash from people and sending it to a wallet that they may think is their own, when in reality it’s a third party.
Investigators said one elderly man completed three transactions within one hour, and lost more than $10,000.
The ATMs are at gas stations in more than 30 states, including Florida.
