Recently, the Federal Bureau of Investigation (FBI) has charged six individuals in connection with unlicensed cryptocurrency-related money transfer operations, which they allegedly used as a money laundering tool.
According to court records, the defendants converted Bitcoin and various other cryptocurrencies into cash from July 2021 to September 2023. The six individuals facing charges are Shaileshkumar Goyani, Brijeshkumar Patel, Hirenkumar Patel, Naineshkumar Patel, Nileshkumar Patel, and Raju Patel.
Earlier this year, two accomplices were arrested, but their identities were not disclosed. One of the accomplices admitted to earning $30 million in cryptocurrency by exchanging money. Notably, many of their clients were primarily involved in drug trafficking and hacking activities.
The FBI has been actively tracking records related to the seizure of cryptocurrencies linked to illegal activities. It’s worth mentioning that the agency has seized $3.36 billion from Silk Road scammer James Zhong and $3.6 billion from Bitfinex hacker Ilya Lichtenstein and Heather Morgan since 2022.