I think it's a very high sentence, can not he pay bail? I do not know the laws of the USA, that's why I'm asking.
This is
the federal law:
Whoever knowingly conducts, controls, manages, supervises, directs, or owns all or part of an unlicensed money transmitting business, shall be fined in accordance with this title or imprisoned not more than 5 years, or both.
You need to hold a license in all the states you operate to make a business of money transmission. Money laundering can carry a twenty-year penalty. I imagine he won't serve the maximum sentence since he plead guilty. Maybe a couple years in prison.
You'd have to be stupid, incapable of processing information or nuts to be doing that type of thing in the USA in this day and age. Sucks for him but what on Earth did he expect would happen?
People are reckless at that age. He's basically a kid.
He'll grow up fast in prison, I'm sure.