Maximiliano Pilipis, 53, formerly of Noblesville, Indiana, is facing fresh federal charges related to an alleged unlicensed crypto exchange he operated for four years.
A superseding indictment has leveled new allegations against Pilipis, including five counts of money laundering and two counts of tax-related offenses, all connected to his business, AurumXchange.
Court documents claim that from 2009 to 2013, Pilipis ran AurumXchange, a platform that allowed users to trade Bitcoin and other virtual currencies for U.S. dollars and other forms of currency, raking in millions in fees.
Despite federal requirements for money transmission businesses—such as identity verification, U.S. Treasury registration, and rigorous reporting procedures—AurumXchange allegedly flouted these regulations, court records suggest. Authorities argue that such measures are critical to curbing criminal activity and ensuring national security.
According to court filings, AurumXchange processed over 100,000 transactions, moving more than $30 million. Some of the transactions are alleged to have links to Silk Road, a now-defunct darkweb marketplace known for drug trafficking and other illicit activities.
When AurumXchange shuttered, Pilipis reportedly moved to disperse and launder assets linked to the operation, attempting to obscure his financial gains.
Starting in 2018, he is said to have liquidated parts of his holdings to buy properties in Indiana and fund his lifestyle while allegedly failing to report significant income—amounting to hundreds of thousands of dollars—in 2019 and 2020.
Read also: FBI arrests man for hacking SEC account, posting fake bitcoin news
U.S. Attorney Zachary A. Myers underscored the Justice Department’s commitment to tackling cryptocurrency-related crime, particularly in cases involving drug trafficking, money laundering, and financial misconduct.
The ongoing multi-agency investigation includes the IRS-Criminal Investigation Division, the USPS Inspection Service, and the Indiana State Police.
If convicted, Pilipis faces up to a decade in federal prison and a $250,000 fine, subject to the federal judge’s ruling. Assistant U.S. Attorneys MaryAnn T. Mindrum and Meredith Wood are leading the prosecution.
It’s a reminder that while an indictment details alleged misconduct, Pilipis remains innocent unless proven guilty in court.
