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John Montroll, the founder of bitcoin-exchange BitFunder, which ceased to exist in 2013, pleaded guilty to fraud with securities and giving false evidence to the investigation. The information was confirmed by John’s lawyer Jeffrey Berman.

According to investigators, in July 2013 John Montroll, with the help of BitFunder, as well as partner’s crypto exchange sites WeExchange and Australia Pty Ltd, sold shares of business companies for bitcoins, and then took all the funds he received for personal use.

Montroll was also accused of giving false testimonies under oath. According to representatives of the US Department of Justice, he stated about the incorrect number of bitcoins available to BitFunder and WeExchange users.

US District Judge Richard Berman postponed sentencing in the Motroll case indefinitely.