Article: Prosecutor: Alleged money launderer Ian Freeman holds $1.6 million in Bitcoins

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Prosecutor: Alleged money launderer Ian Freeman holds $1.6 million in Bitcoins

Mark Hayward New Hampshire Union Leader, 19 March 2021

CONCORD — Free-Keene leader Ian Freeman has accessed $1.66 million worth of Bitcoins and had $178,000 in cash in his safe when his house was raided by federal authorities this week, prosecutors said on Friday.

Federal prosecutors also said Freeman has access to gold, silver, and possibly other liquid assets and cryptocurrencies. Freeman — who faces eight felony charges including money laundering, wire fraud and conspiracy — could tap those assets and use them to flee if a judge releases him on bail, prosecutors warned.

Assistant U.S. Attorney Georgina MacDonald voiced those concerns during an hour-plus bail hearing streamed live Friday from U.S. District Court in Concord.

The hearing ended with Judge Magistrate Andrea Johnstone deferring a decision and promising a written order as soon as possible.

On Tuesday, the FBI arrested Freeman and five others who are part of the libertarian Free Keene movement on charges related to a Bitcoin-dollar exchange system they ran through churches they were closely affiliated with.

Freeman is the only one to face charges of money laundering and operating a continuing financial crimes enterprise, which call for mandatory minimum sentences of 10 years.

MacDonald termed Freeman a sophisticated cybercriminal.

Close to 70 people, including media, FBI agents and some with cryptic names, logged on for the hearing. Freeman participated via video feed from Merrimack County jail.

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