Skip to main content
Press Release

Guam Cryptocurrency Broker Sentenced to 30 Months in Federal Prison for $5.5 Million Bitcoin Scheme

For Immediate Release
U.S. Attorney's Office, Districts of Guam & the Northern Mariana Islands

Hagatña, Guam – SHAWN N. ANDERSON, United States Attorney for the Districts of Guam and the Northern Mariana Islands, announced that defendant Julien Abat Weymouth, age 32, from Dededo, Guam was sentenced to 30 months imprisonment.  He was charged with Operating an Unlawful Money Transmitting Business, in violation of 18 U.S.C. § 1960.  The Court also ordered 3 years of supervised release following imprisonment and a mandatory $100 special assessment fee. 

From January 2020 to April 2021, Julien Abat Weymouth was engaged in the operation of an unlawful money transmitting business involving the exchange and transfer of cryptocurrency, primarily Bitcoin. Weymouth solicited cash and cryptocurrency from “clients" or "investors" within and outside the District of Guam, and transmitted the bitcoin to a third-party, William Ichioka, located outside of Guam for purported investment purposes.  Ichioka operated a fraudulent investment scheme known as Ichioka Ventures.  Ichioka was prosecuted separately in the Northern District of California.

Weymouth guaranteed his clients and investors a percentage return on their alleged investment and kept any excess return over and above the guaranteed rate as his fee.  As part of his scheme, Weymouth solicited and accepted funds and cryptocurrency from individuals involved in illegal activity.  Operating as a cryptocurrency exchanger and engaged in the business of transmitting funds on behalf of others to third parties for a fee, he failed to register with FinCEN and failed to comply with federal regulations governing money transmitters.

During the time of his scheme, Weymouth transmitted funds and cryptocurrency worth approximately $5,517,323.48.  He generated significant personal profits which he reinvested into various forms of cryptocurrency, held in bank accounts, and funded the purchase of vehicles and other assets.  As part of his plea agreement, Weymouth stipulated to the forfeiture of over 200 Bitcoin with a present value of over $8 million, 6 vehicles, and $127,000 in a PenFed bank account.

“Cryptocurrencies are often used to facilitate fraudulent activity,” stated United States Attorney Anderson.  “These financial assets do not guarantee anonymity, as generally perceived by criminals.  Our office will continue to target unlicensed money transmitting, money laundering, and any other unlawful transactions associated with cryptocurrency.

“U.S. Secret Service Guam Resident Office is dedicated to protecting our nation’s citizens within the Districts of Guam and the Northern Mariana Islands,” said Resident Agent in Charge Neal de Paz. “We appreciate federal law enforcement partners, the United States Attorney’s Office and the Guam Police Department, whose hard work and dedication ensured successful outcome in this complex investigation.” 

This case was investigated by U.S. Secret Service and prosecuted by Benjamin K. Petersburg, Assistant United States Attorney in the District of Guam.


Carmela S. Rapadas, Public Information Officer

Office: 671.472-7332 | Email:

Updated January 29, 2024

Financial Fraud
Securities, Commodities, & Investment Fraud