Overview

• Keonne Rodriguez and William Lonergan Hill pleaded guilty to conspiracy to operate an unlicensed money transmitting business in Manhattan federal court.
• The plea agreement dropped a money laundering conspiracy charge that carried a potential 20-year prison sentence.
• The founders agreed to forfeit just under $238 million, including $6.3 million due before their November 6, 2025, sentencing.
• Both defendants remain on house arrest as they await their scheduled sentencing later this year.
• Legal experts say the resolution could influence the ongoing Tornado Cash trial against Roman Storm and set a precedent for privacy-focused mixer prosecutions.