The first person to be convicted in the UK for running a network of crypto ATMs has been sentenced to four years in prison.
Olumide Osunkoya, 46, had committed “an extremely serious offence”, Judge Gregory Perrins said on Friday at London’s Southwark Crown Court, handing down the sentence.
The UK Financial Conduct Authority brought five charges against Osunkoya last year for unlawfully running multiple crypto ATMs without registration, falsifying documents, and possessing criminal property between December 2021 and September 2023.
Osunkoya pleaded guilty to all of the charges in September 2024.
