New York woman gets thirteen years in jail for funding Islamic State terorist group with bitcoin

A New York woman has been sentenced to 13 years imprisonment for funding the Islamic State of Iraq and al-Sham (ISIS) with bitcoin and other cryptocurrencies.

The U.S. Department of Justice announced the news on Friday, saying that the woman, Zoobia Shahnaz, defrauded several banks to obtain money for ISIS during March-July 2017.

Shahnaz fraudulently obtained “more than a dozen” credit cards and used them to purchase approximately $62,000 in bitcoin and other cryptocurrencies online. She then made multiple wire transfers worth over $150,000 to individuals and firms in Pakistan, China and Turkey that were fronts for ISIS, per the Justice Department.

Shahnaz was indicted in December 2017. At the time, the Justice Department said she sought to use American Express Bank, Chase Bank, Discover Bank and TD Bank to transmit funds overseas.

Shahnaz pleaded guilty in November 2018 as she admitted to defrauding banks and laundering stolen funds out of the U.S. for providing material support to ISIS.

Source: Yahoo