The former chairman of the board for the conserved Helping Other People Excel Federal Credit Union of Jackson, N.J., was indicted on bribery charges March 3.
According to court documents, Trevon Gross, who is also a pastor at Hope Cathedral in Jackson, was indicted for accepting more than $150,000 in bribes as chairman of the board. The indictment is connected to Gross' acceptance of bribes relating to an unlawful Bitcoin exchange operated by co-defendant Anthony Murgio.
Murgio was named in a criminal complaint in July 2015 along with Yuri Lebedev. The two allegedly conspired to operate an unlicensed money laundering business and an unlicensed money transmitting business, which exchanged millions of dollars for Bitcoins for their customers.
Gross allegedly allowed the two men and others to take control of Helping Other People Excel and assisted with the efforts in exchange for bribes. According to the Manhattan U.S. Attorney's office, Gross then directed Murgio to deposit funds into bank accounts under Gross' control. Gross then used the bribe money for personal expenses, including personal credit card payments.
Additionally, Gross assisted in placing both Murgio and Lebedev, as well as others, onto the board of directors of Helping Other People Excel and then transferred the banking operations of the unlicensed business, Coin.mx, to the credit union.
The conspirators operated Helping Other People Excel as a captive bank for their unlawful Bitcoin exchange from 2014 until early 2015, according to a press release from the United States Attorney for the Southern District of New York, Preet Bharara.
During this time, the NCUA discovered their activities and eventually placed the credit union under conservatorship.
Gross is charged with one count of corruptly accepting payments as an officer of a financial institution. The charge carries a maximum sentence of 30 years in prison.
His trial is scheduled for Oct. 31.
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