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 to charges related to operating an unlicensed money transmitting business.
Court documents reveal that McNeilly owned and ran Global Income Marketplace LLC (GIM) from West Haven. The company was registered in Connecticut as being involved in “website builders programming tech computer repairs and upgrades.” McNeilly also operated Global NuMedia LLC (GNM), registered in Delaware. Without obtaining a license from the Connecticut Department of Banking for money transmission activities, McNeilly opened several bank accounts under GIM and GNM and used them to exchange customers’ cash, checks, and money orders for cryptocurrency.
From July 2019 to June 2022, he exchanged over $1 million in U.S. currency for cryptocurrency nationwide. It was found that some funds were linked to fraud schemes, with cashier’s checks from romance fraud victims deposited into GIM accounts.
In February 2021, TD Bank informed McNeilly about a fraudulent $10,000 wire transfer to GNM and stated he needed a license for his operations. Despite this warning and account closures by TD Bank, he continued his activities through other accounts.
McNeilly has pleaded guilty to one count of operating an unlicensed money transmitting business with a maximum five-year imprisonment penalty and three counts of making illegal money transactions carrying up to ten years each.
Arrested on June 6, 2024, McNeilly is currently out on a $50,000 bond awaiting sentencing on October 20.
The case is investigated by the U.S. Postal Inspection Service with prosecution led by Assistant U.S. Attorney Heather L. Cherry.
