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Cryptocurrency Influencer ‘Bitcoin Rodney’ Denied Parole
An online cryptocurrency influencer known as “Bitcoin Rodney,” accused of running a multibillion-dollar scam, was arrested Tuesday and awaiting trial.
Rodney Burton was arrested at Miami International Airport in January and charged with conspiracy to operate an unlicensed money transfer business and operating an unlicensed money transfer business.
U.S. District Judge Richard Bennett of the U.S. District Court in Baltimore denied Burton’s request for bail before the case goes to trial, saying Burton “poses an extreme flight risk.”
No trial date has been set.
Last month, Burton asked the court to release him in high intensity supervision.
In a detention memo, the government said Burton was part of a “Ponzi scheme.”
The judge cited a recorded phone call from Burton as evidence in the case. In the call, Burton spoke of his intentions to move to Dubai and continue to participate in cryptocurrency activities regardless of whether individuals would be “harmed” by the scheme, according to court records. He also mentioned that he was being investigated by “the feds.”
The evidence against Burton is strong, the judge said. In addition to the phone call, the indictment alleged that Burton had made “hundreds of illegal money transactions.”
“The above-referenced telephone call is even greater evidence against Burton,” Bennett wrote in a five-page ruling.
The judge described the nature and circumstances of Burton’s alleged crime as serious, as he is accused of taking part in a cryptocurrency fraud worth nearly $2 billion.
Furthermore, the judge said, Burton’s financial resources and prior convictions for conspiracy to distribute cocaine justify his detention.