A Florida man accused of participating in a scheme in which a New Jersey credit union was used as a front to conceal an illegal Bitcoin operation will be arraigned in a New York City federal court next week.

Michael J. Murgio (pictured), 65, a Palm Beach County School Board member and business consultant who was arrested at his home Thursday, will face bribery and wire fraud charges in U.S. district Court in Manhattan.

According to media reports, Murgio is the father of Anthony R. Murgio of Tampa, Fla., who was named in a criminal complaint in July 2015 that alleged he conspired with Yuri Lebedev of Jacksonville, Fla., to operate an unlicensed money laundering business and an unlicensed money transmitting business, Coin.mx, which exchanged millions of dollars for Bitcoins for their customers.

Peter Strozniak


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