A US court is taking a pastor to trial over setting up an illegal Bitcoin exchange and plotting to take over a small credit union.

Programmer Yuri Lebedev bribed pastor Trever Gross, head of a New Jersey credit union based out of his church, with almost $150,000 in exchange for allowing the takeover of his firm by unlicensed Bitcoin exchange Coin.mx.

The exchange planned to use the credit union as a way to avoid investigation, the court heard, by processing payments from users wishing to buy Bitcoin. Both men deny the charges and place the blame squarely on the head of the Coin,mx exchange, Anthony Murgio.

The trial follows an investigation into a data breach at JP Morgan in 2014, with an Israeli national involved with Coin.mx being blamed in part for the attack.

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by Alex Hamilton
Alex is Senior Reporter at IBS Intelligence, follow him on Twitter or contact him at: alexanderh@ibsintelligence.com