US court found guilty the owner of the RG Coins cryptocurrency exchange Rossen Iosifov in money laundering and participation in a multi-million dollar scheme aimed at residents of the United States.
According to the US Department of Justice, Iosifov deliberately facilitated the laundering of funds obtained from fraudulent activities. At least five of Iosifov’s large clients belonged to the Romanian criminal group AOAF, which organized a network of online auction fraud.
According to court documents, at least 900 US residents became victims of the criminal scheme of Iosifov and his accomplices.
The cybercriminals posted fake ads on popular online auctions selling expensive items that didn’t really exist. After receiving the payment, the funds were converted into cryptocurrency and then laundered.
Iosifov’s activities were aimed at serving criminal groups – for example, more favorable exchange rates were provided for members of the AOAF network.
Iosifov laundered about $ 5 million through cryptocurrencies in three years, receiving $ 184,000 for his services.
He was sentenced to 121 months in prison.
Formerly US court found guilty in organizing a fraudulent scheme of the founder of the Gemcoin cryptocurrency, Steve Chen.
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