US Sentences Indian Man For Laundering Cryptocurrency Worth $20 Million
The US Department of Justice (DOJ) sentenced an Indian national to 121 months in prison for his involvement in a cryptocurrency money laundering scheme. Anurag Pramod Murarka laundered $20 million worth of cryptocurrencies through the darknet and the infamous international hawala network.
Murarka ran his scheme using aliases on the darknet namedandand operated as a cryptocurrency vendor. He facilitated the laundering of over $20 million worth of cryptocurrency proceeds linked to criminal activities. He guided the drug mafia and hackers to deposit their funds obtained by illegal activities. The 30-year-old then doled out the funds to clients across the US.
$20 Million Cryptocurrency Laundering: Here’s How It Operated
After agreeing on an exchange rate with the clients, he instructed them to send cryptocurrency to a specific wallet address. The funds would then be converted into cash and disbursed to them through various methods. The methods include placing cash between a truck full of books and also in sealed envelopes. The other form of method Murarka used was the international hawala network.
said the US Justice Department during his sentencing to 121 months in prison.
said U.S. Attorney Carlton S. Shier, IV.
