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In short
- The FBI arrested former Olympic snowboarder Ryan James Wedding ceremony, who's accused of operating a crypto-backed cocaine trafficking operation.
- Prosecutors say his community used Tether (USDT) to maneuver drug proceeds throughout borders.
- Wedding ceremony is now being dropped at the U.S. from Mexico to face trial.
The FBI introduced Friday that it has arrested Ryan James Wedding ceremony, a wished fugitive and former Olympic snowboarder accused of working a drug-smuggling empire backed by crypto.
Wedding ceremony, a Canadian nationwide, was accused in 2024 by the U.S. Division of Justice of managing a cocaine trafficking operation operating from Colombia, by means of Mexico, and into the USA. Wedding ceremony and his enterprise companions additionally orchestrated quite a few murders as a part of that operation, the prosecutors alleged.
The DOJ and the Treasury Division have claimed that Wedding ceremony and his staff relied on the stablecoin Tether (USDT) to gas their actions. Drug runners would use QR codes to obtain cost for cocaine in USDT, the grievance in opposition to Wedding ceremony alleged.
The previous snowboarder, who represented Canada on the 2002 Winter Olympics, was lengthy considered hiding in Mexico. After greater than a yr of pursuit, Wedding ceremony was arrested within the nation final evening, FBI Director Kash Patel stated Friday.
“This can be a enormous day for a safer North America, and the world, and a message that those that break our legal guidelines and hurt our residents can be dropped at justice,” Patel stated.
The FBI director added that Wedding ceremony is at present being transported by the FBI to the USA to face trial.
In late 2024, the DOJ seized one ton of cocaine, $3.2 million value of crypto, and a number of firearms linked to Wedding ceremony and his alleged drug operating scheme.
Shortly thereafter, the Treasury Division sanctioned the ex-Olympian, a number of of his associates, and associated entities. These included a Toronto jewellery enterprise which the Treasury Division claimed was used as a entrance to launder crypto earned from cocaine gross sales.
Capturing Wedding ceremony, one of many FBI’s prime 10 most wished fugitives, has lengthy been an company precedence. The FBI first supplied a $10 million reward for data resulting in the fugitive’s arrest. That quantity was later raised to $15 million.
It’s not but clear if data from the bounty program led to Wedding ceremony’s arrest, or if the money reward can be paid. An FBI spokesperson didn’t instantly reply to Decrypt’s request for touch upon the matter.
