An inmate already in prison for fraud is now facing new charges for stealing hundreds of thousands of dollars in digital assets to avoid being caught by law enforcement.
Bulgarian national and 53-year-old Rossen G. Iossifov is accused of moving about $290,000 worth of cryptocurrency that was confiscated by the government, he says US Department of Justice (DOJ).
Court documents show that in January 2024, Iossifov allegedly conspired to siphon off money seized after his 2021 conviction for his role in a multimillion-dollar fraud scheme. fur America’s victims. At the time, Iossifov was in prison for 111 months and was ordered to pay $2.64 million in restitution and forfeit the cryptocurrencies involved in the crime.
Iossifov is said to have transferred the seized funds through multiple digital exchanges and illegal mixed services in order to prevent the US government from obtaining the funds.
Said Assistant Attorney General A. Tysen Duva of the Department of Justice’s Criminal Division,
“Convicted of a widespread online fraud scheme targeting victims in the US, Iossifov is now accused of moving the crypto-assets he obtained from the crime, in violation of a court-ordered forfeiture order.
Iossifov is facing charges of extortion to prevent extortion and conspiracy to commit money laundering. If convicted, he faces a maximum sentence of 25 years in prison.
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