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A 25-year-old Indian-origin man has agreed to plead guilty to federal criminal charges for owning and operating an unlicensed money transmitting business where he exchanged up to USD 25 million in cash and virtual currency for individuals, including drug dealers and other criminals. Kunal Kalra, also known as 'Kumar', 'shecklemayne' and 'coinman', was charged in a four-count criminal information filed in the US District Court in Los Angeles. He is expected to make his initial court appearance next month. Homeland Security Investigations (HSI) criminal investigators seized nearly USD 889,000 in cash from Kalra's bank accounts and vehicle, as well as approximately 54.3 bitcoins and other cryptocurrencies. The maximum possible sentence Kalra could receive for these charges is life in federal prison. Kalra also agreed to plead guilty to four felonies of distribution of methamphetamine, operating an unlicensed money transmitting business, laundering of monetary instruments, and failure to .

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