Cryptocurrency ATM owner, others indicted for enabling profitable scams

Law & Justice

Cryptocurrency ATM owner, others indicted for enabling profitable scams

海角破解版 | By Matthew Richmond

Published March 2, 2023 at 6:19 PM EST

Updated June 24, 2024 at 3:33 PM EDT

Cuyahoga County Prosecutor Michael O'Malley at lectern — Cuyahoga County Prosecutor Michael O'Malley, at the lectern, along with Assistant Prosecutor Andrew Rogalski, left, and U.S. Secret Service Special Agent in Charge Blaine Forschen, announce indictments against Bitcoin of America on March 2, 2023.

Updated: June 24, 2024 at 3:33 PM EDT

On Nov. 28, 2023, all charges against Reza Mehraban were dismissed.

There is no record of an indictment naming William Suriano or a court case involving Suriano in the Cuyahoga County Court of Common Pleas docket.

On Nov. 27, 2023, Sonny Meraban pleaded guilty to two counts of receiving stolen property, two counts of license requirement violations and one count of possessing criminal tools, all of which are felonies.

The full plea agreement was filed under seal with the court. But the docket shows Meraban was required to forfeit a speed boat to law enforcement in Miami and a Mercedes van to Ohio law enforcement; surrender 104.840642 bitcoins, which on Nov. 27 was worth about $4 million, to law enforcement; and pay restitution to several people who paid scammers using Bitcoin of America ATM kiosks.

The Cuyahoga County Prosecutor鈥檚 office has indicted a cryptocurrency ATM company, its founder and two others, saying the company profited off of scammers who convinced people to deposit millions into its machines.

Illinois-based S and P Solutions owns and operates Bitcoin of America ATM kiosks, which exchange cryptocurrency for cash deposited into the machines. The machines were placed in gas stations, convenience stores and other businesses across Northeast Ohio.

The company鈥檚 founder, Sonny Meraban, was . His father, Reza Mehraban, and an attorney working for the company, William Suriano, were arrested near Chicago.

Cuyahoga County Prosecutor Mike O鈥橫alley said at a press conference announcing the indictments Thursday that 52 of the company's cryptocurrency kiosks were seized in Cuyahoga and Lorain Counties.

鈥淎ll of these warrants were executed yesterday, there was over 100 law enforcement officers involved and it was a very complex operation,鈥� O鈥橫alley said.

The three men are charged with 59 counts in Cuyahoga County Common Pleas court, including conspiracy, engaging in a pattern of corrupt activity, operating the kiosks without a license, tampering with records and money laundering.

According to investigators, Bitcoin of America ATM machines were preferred by scammers who would call victims and convince them to deposit money into the machines. When the victims deposited cash, 20% went to Meraban鈥檚 company.

Law enforcement officials said the scammers sent their victims to Bitcoin of America machines because they did not follow safeguards meant to prevent these kind of fraudulent transactions.

According to an indictment filed in Cuyahoga County on February 22 and unsealed Wednesday, Meraban is connected to illegal transactions involving 13 individuals in Cuyahoga County between 2020 and 2023.

O鈥橫alley said Thursday there are likely more victims.

Meraban founded the company in 2015 after selling supplements online and, , has placed machines in 25 states.

The prosecutor鈥檚 office is seeking to bring the three men to Cuyahoga County for a March 22 court appearance. The indictment also calls for the seizure of bank accounts, several Mercedes-Benz鈥檚, a Lamborghini, real estate and a speed boat purchased with the proceeds of the transactions.