conversion of funds

At most, governments could prohibit the conversion of funds between local currencies and Bitcoins, but this will merely push the currency underground, not eliminate it altogether.

Mr. Formato was sentenced to 15 years in prison for tax evasion, wire fraud and illegal conversion of funds for his involvement in Laser Arms.

The complaint said that in early 1978 Mr. Gherman obtained his clients' powers of attorney to transfer money given to him for investment and periodically gave them fraudulent statements that concealed "the massive conversion of funds to his personal use."