Finally, one of the executive co-owner of the embattled BitMEX was arraigned in the US court after surrendering to the authorities. Delo appeared before Sarah L Cave- a Magistrate Judge, on 15th March. He was accused of running an unlicensed and unregistered trading platform but pleaded not guilty, after which he was released on a $20 million bail bond.
This follows a protracted negotiation with the US authority that took place in February over his surrender. The Border Patrol and FBI coordinated the negotiation. The objective was to allow Delo to travel to the US to be charged. Delo is already serving a UK travel ban prohibiting him from leaving the UK.
According to Delos spokesperson Rachel Miller, the charges facing Ben were unwarranted and unfounded. He said that Delo would defend himself and clear his name against the charges.
Greg Dwyer, Samuel Reed, Arthur Hayes, and Delo are all BitiMex executives accused of violating the US money-laundering laws. They are accused of running a trading platform that is not registered and providing unlicensed services to American citizens.
Samuel Reed, the ex-CEO of BitMex, was charged in October and was released after paying a bond of $5 million and a promise to adhere to court directives.
The other x-CEO, Arthur Hayes, who is based in Singapore, is working with the authority and is likely to surrender on 6th April in Hawaii.
However, Greg Dwyer, another executive based in Bermuda, has refused to surrender. The court has already issued extradition proceedings to have him returned to the Us and face the charges.