Crypto
Feds: CT man’s alleged cryptocurrency business exchanged more than $1M. From a storefront.
A Connecticut man has been indicted by federal grand jury on a charge of operating an unlicensed money transmitting business, according to federal authorities.
William McNeilly, 55, of New Haven, is charged with one count of operating an unlicensed money transmitting business, which carries a maximum term five years in prison if convicted, and with three counts of making illegal money transactions, which carries a maximum term 10 years in prison on each count, if convicted.
The indictment by a New Haven grand jury was returned on June 5, 2024, and McNeilly was arrested on June 6. He appeared before U.S. Magistrate Judge Maria E. Garcia in New Haven, pleaded not guilty, and is free on a $50,000 bond, according to federal authorities.
Authorities said the indictment alleges that McNeilly owned and operated Global Income Marketplace LLC from a storefront in West Haven and that, according to its Connecticut state registration, GIM was engaged in “website builders programming tech computer repairs and upgrades.”
McNeilly and another individual also operated Global NuMedia LLC, a limited liability company registered in Delaware, authorities said.
Authorities said McNeilly allegedly never obtained a license from the state Department of Banking “to engage in the business of money transmission,” but he allegedly “opened up several bank accounts in the names of GIM and GNM, and a cryptocurrency exchange account in the name of GNM, and used the accounts to operate a business through which he exchanged customers’ cash, checks, and money orders for cryptocurrency, charging a fee for the service.”
From about July 2019 to June 2022, McNeilly allegedly exchanged more than $1 million in U.S. currency for cryptocurrency on behalf of customers throughout the U.S., authorities said. “McNeilly knew that some of the funds involved in his illegal business were derived from fraud schemes, and the investigation revealed that cashiers checks from victims of romance fraud schemes were mailed to GIM and deposited into GIM accounts,” authorities said in a statement.
Authorities also alleged that, in February 2021, “McNeilly was contacted by TD Bank and told that a $10,000 wire transfer to GNM was reported as fraudulent, and that he needed a license to operate a money transmission business,” but “despite the warning, and that TD Bank closed the GIM and GNM accounts, McNeilly continued to operate his money transmission business through other GIM and GNM bank accounts.”
The case was investigated by the U.S. Postal Inspection Service.
Robert Kiyosaki sold $2.25M in Bitcoin for cash flow, investing in surgery centers and billboards.
Entrepreneur and author of the bestseller “Rich Dad, Poor Dad,” Robert Kiyosaki, announced that he sold his bitcoins worth $2.25 million to generate “additional cash flow.”
PRACTICING WHAT I TEACH:
I sold $2.25 million in Bitcoin for approximately $90,000.
I purchased the Bitcoin for $6,000
a coin years ago.With the cash from Bitcoin I am purchasing two surgery centers and investing in a Bill Board business.
I estimate my $2.25 million…
— Robert Kiyosaki (@theRealKiyosaki) November 21, 2025
The investor noted that he bought the coins “years ago” when they were priced at about $6,000. The selling price was approximately $90,000.
Kiyosaki invested the proceeds in two surgical centers and a billboard business.
“Practicing What I Teach”
This is how the entrepreneur titled his post. He estimates the new investments will bring him a monthly tax-free income of ~$27,500. This is expected to expand his revenue to “hundreds of thousands” per month, considering the existing income from real estate.
Nevertheless, Kiyosaki assured:
“I remain very bullish and optimistic about Bitcoin and will start buying more when I have positive cash flow.”
He described his investments from the cryptocurrency sale as a real-life implementation of a “get rich plan.” Kiyosaki stated that his actions align with the teachings of “Rich Dad, Poor Dad” and his board game “Cashflow.”
In recent years, the entrepreneur has regularly urged the accumulation of bitcoins, gold, and silver as opposed to “fake dollars.” He also predicted “the biggest stock market crash” and the collapse of the global financial system.
However, he concluded his post about selling cryptocurrency with the phrase:
“The world economy is booming.”
Why Not Borrow?
In 2024, Kiyosaki revealed that he owns 15,000 homes, acquired through bank loans. He rents out the properties and, thanks to buying on credit, pays no taxes.
Around the same time, he admitted that his liabilities to financial institutions amount to $1.2 billion. Kiyosaki stated that he sees no issue with this, as he uses borrowed funds for investments.
The entrepreneur contrasted this approach with the strategy of his friend Dave Ramsey, whose advice is: “live debt-free.”
WHO IS RIGHT? My friend Dave Ramsey says “Live debt free.” I say “I use debt to invest. I am $1.2 billion in debt.” Again who is right?
My answer is for most people with low financial acumen, Dave’s advice is the smarter advice. For the financially educated and experienced my…— Robert Kiyosaki (@theRealKiyosaki) March 16, 2024
Ramsey’s family office also built a real estate empire valued at about $600 million, but entirely with available funds.
“For most people with low financial literacy, Dave’s advice is the wiser choice. For financially savvy and experienced investors, my approach might be better,” Kiyosaki stated.
In October 2025, on the podcast The Iced Coffee Hour, the entrepreneur casually responded to a question about his debt size: “a billion, maybe two.” Regarding potential default concerns, he further made a remark that caught the community’s attention:
“If you owe banks $20 million and can’t repay, you’re in trouble. But if it’s a billion dollars, it’s their problem.”
Earlier in November, Kiyosaki once again warned of an “impending crash.” He emphasized that he continues to buy “gold, silver, bitcoins, and Ethereum, even when they fall.” His forecast for the leading cryptocurrency is $250,000 in 2026.
CRASH COMING: Why I am buying not selling.
My target price for Gold is $27k. I got this price from friend Jim Rickards….and I own two goldmines.
I began buying gold in 1971….the year Nixon took gold from the US Dollar.
Nixon violated Greshams Law, which states “When fake…
— Robert Kiyosaki (@theRealKiyosaki) November 9, 2025
Given all this, commentators raised reasonable questions about why the sale of a digital asset was necessary for investments of a relatively small amount by Kiyosaki’s standards. Users noted that the entrepreneur could have simply slightly increased his debt, which he sees no problem with.
The anticipated growth of Bitcoin by Kiyosaki would have brought him about $4 million in income over a year on the realized volume of cryptocurrency. The additional cash flow from the new investments he declared will amount to about $300,000 over this period.
On Friday, November 21, Bitcoin prices fell below $83,000. Experts did not rule out a further decline to $70,000.
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