David X. Sullivan, United States Attorney for the District of Connecticut, announced that William McNeilly, 56, from New Haven, has pleaded guilty in a federal court in New Haven. The charges relate to his operation of an unlicensed money transmitting business.
Court documents reveal that McNeilly owned Global Income Marketplace LLC (GIM) in West Haven. Although registered for tech-related services, GIM was used by McNeilly and another individual to run an illegal money transmission business. They also operated Global NuMedia LLC (GNM), registered in Delaware. Without obtaining a license from the Connecticut Department of Banking, McNeilly opened bank accounts under GIM and GNM names and conducted cryptocurrency exchanges for customers' cash and checks.
From July 2019 to June 2022, McNeilly exchanged over $1 million into cryptocurrency across the U.S., aware that some funds came from fraud schemes. Investigations showed cashier's checks from romance fraud victims were sent to GIM and deposited into its accounts.
In February 2021, TD Bank informed McNeilly about a fraudulent $10,000 wire transfer to GNM and advised him on licensing requirements. Despite this warning and account closures by TD Bank, he continued his operations through other accounts.
McNeilly pleaded guilty to one count of operating an unlicensed money transmitting business with a potential five-year prison sentence and three counts of making illegal transactions with up to ten years per count.
Arrested on June 6, 2024, McNeilly is out on a $50,000 bond awaiting sentencing on October 20. The U.S. Postal Inspection Service investigates this case with prosecution led by Assistant U.S. Attorney Heather L. Cherry.
