Arizona Bitcoin Trader in Custody Following Police Raid
A bitcoin advocate and trader in Arizona remains in custody after his home was raided last week by federal officials.
Thomas Costanzo was arrested on 20th April during the raid after law enforcement discovered that he was in possession of ammunition – a reported violation of an agreement stemming from a prior conviction.
Court documents obtained by CoinDesk reveal that US Magistrate Michelle Burns has ordered Costanzo to stay in custody until trial following a hearing held today. According to the document, Costanzo has been deemed a “serious flight risk”, with Burns citing his past criminal history and “a record of prior failure to appear in court as ordered”, according to the document.
As previously reported, officials, led by the Department of Homeland Security, obtained a search warrant that granted them permission to seize assets including the cryptocurrencies bitcoin, ethereum and dash, as well as software related to digital currency. However, to date, Costanzo has only been charged for unlawful possession of ammunition.
Maria Weidner, a public defender representing Costanzo, did not immediately respond to a request for comment.