Florida man gets 47 years for $3.5 million in Bitcoin home invasions

A Florida man has been sentenced to 47 years in prison for leading a series of violent home invasions targeting cryptocurrency owners.

Remy St Felix, 24, orchestrated the theft of $3.5 million in Bitcoin (CRYPTO:BTC) and other digital assets through armed robberies and SIM-swapping schemes across multiple states, including Florida, Texas, and New York.

The U.S. Department of Justice (DOJ) reported that St Felix led a group of 13 accomplices who used violent methods to force victims into transferring their digital assets.

The invasions involved breaking into homes, holding victims at gunpoint, and using zip ties to restrain them.

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One victim was reportedly abducted and driven 120 miles while being held hostage.

St Felix's conviction in June covered nine charges, such as conspiracy, kidnapping, Hobbs Act robbery, wire fraud, and using firearms in violent crimes.

He faced a minimum of seven years in prison but received a much harsher sentence due to the severity of his actions and the impact on the victims.

The court also mandated him to pay $524,000 in restitution for the stolen assets.

The criminal network did not stop at home invasions.

They employed SIM-swapping tactics to gain access to victims’ cryptocurrency accounts.

Law enforcement stated that the group also utilised decentralised finance tools to launder their illicit gains.

Their criminal activities spanned from September 2022 to July 2023.

A co-conspirator, Jarod Gabriel Seemungal, 23, was sentenced to 20 years for aiding the group with firearms and logistics.

The FBI’s field office in Charlotte led the investigation, with support from agents in New York, Miami, and Houston.

Additional sentences for other members of the group are expected next month.

At the time of reporting, the Bitcoin (BTC) price was $58,079.75.