The CEO of a cryptocurrency ATM company was arrested in Miami Beach on a warrant from Ohio charging him with conspiracy, money laundering and other charges.
Sonny Meraban, 45, was taken into custody at a home on Collins Avenue Wednesday afternoon, according to an arrest report.
According to the report, Meraban faces nearly five dozen counts of various counts including conspiracy, money laundering, receiving stolen property and more than 30 counts of licensing violations in a Cuyahoga County, Ohio court order.
Meraban is listed as CEO of Bitcoin America, a virtual currency exchange registered as a money services business with the United States Department of Treasury.
Maraban appeared in an extradition hearing Thursday and will travel to Cuyahoga County to face charges.
The Cuyahoga County Prosecutor's Office said the arrest is part of an operation that resulted in indictments of people who own and operate cryptocurrency kiosks.
Investigators said there were 54 search warrants, 52 bitcoin machines and three arrests in the Illinois-based operation.
The allegation is that the ATMs were operating without a license, taking cash from people and sending it to a wallet they may think is theirs, when in fact it belongs to a third party.
Investigators said an elderly man completed three transactions in one hour and lost more than $10,000.
ATMs are at gas stations in more than 30 states, including Florida.
