In short
- Rossen Iossifov, a Bulgarian citizen serving 111 months for embezzling nearly $5 million, has been charged with attempting to transfer $290,000 in cryptocurrency that was ordered to be confiscated by a court.
- Prosecutors say he orchestrated the transfer through multiple exchanges and mixed jobs in January 2024, while he was already in federal prison.
- If convicted of the new charges, Iossifov could face up to 25 years in prison.
A Bulgarian man previously arrested on major money laundering charges in the US is accused of pulling off another scheme inside a federal prison, allegedly transferring $290,000 in cryptocurrency that he was ordered to forfeit by a court.
Rossen Iossifov, 53, made his first court appearance in the Eastern District of Kentucky this week on charges of racketeering, aiding and abetting money laundering, the Justice Department said. words. Prosecutors say that in January 2024, they planned to withdraw and transfer the confiscated money through several exchanges and mixed operations, which included money to hide their methods, so that the money did not reach the government.
Prosecutors who “violate the terms of entry into law” in previous cases will be prosecuted to prevent this, said Assistant Attorney General A. Tysen Duva of the Justice Department’s Criminal Division. The US Secret Service, which investigated both cases, said the allegations were “direct problems” for the courts and for the victims.
The price of shares of RG Coin
Iossifov owned RG Coins, a cryptocurrency exchange in Sofia, Bulgaria, and was. was built in 2021 of money laundering and money laundering for his role in the Alexandria Online Auction Fraud network. The Romanian ring posted fake listings for cars and other valuables on sites like eBay and Craigslist, collected money from 900 American victims, and passed the money on to foreign launderers, with Iossifov turning crypto into cash at the end of the chain.
Trial evidence shows that he spent nearly $5 million in cryptocurrency in three years. He was ordered to pay more than $2.6 million in restitution and crypto disposal now at the center of a new trial, and was serving 111 months when he was transferred.
If convicted of the new charges, Iossifov could face up to 25 years in prison on top of his current sentence. The Department of Justice’s cybercrimes division, which handles prosecutions, said it has found more than 180 cybercriminals since 2020 and has ordered more than $350 million in restitution to victims.
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