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June 12, 2020

Justice Gets 15 Guilty Pleas for International Crime Ring that Laundered Money Through Cryptocurrency Exchanges

Featuring Yaya J. Fanusie

Source: Nextgov

Journalist Mariam Baksh

Fifteen people entered guilty pleas for involvement in an international scam that posted fraudulent auctions online and laundered money through cryptocurrency exchanges, according to the Justice Department.

One expert says the case could serve as a template for nation-state actors using cryptocurrency exchanges to cover their tracks more in the future.

“Today’s modern cybercriminals rely on increasingly sophisticated techniques to defraud victims, often masquerading as legitimate businesses,” said Assistant Attorney General Brian A. Benczkowski of the Justice Department’s Criminal Division in a press release Thursday. “These guilty pleas demonstrate that the United States will hold accountable foreign and domestic criminal enterprises and their enablers, including crooked bitcoin exchanges that swindle the American public.”

Read the full article and more in Nextgov.


  • Yaya J. Fanusie

    Adjunct Senior Fellow, Energy, Economics and Security Program

    Yaya J. Fanusie is an Adjunct Senior Fellow at the Center for a New American Security (CNAS) where his research focuses on crypto, blockchain, and central bank digital currenc...