FBI Shuts Down $20 Million Crypto Laundering Operation, Indian Man Gets 10 Years in Prison

A 30-year-old Indian national has been sentenced to 121 months in US federal prison after being convicted of conspiracy to commit money laundering. 

Anurag Pramod Murarka, who operated under the aliases “elonmuskwhm” and “la2nyc,” ran an international money laundering business.

Indian National Sentenced to 10 Years for Crypto Money Laundering

According to a statement from the Justice Department, Murarka’s operations spanned from April 2021 until his arrest on September 29, 2023. He used crypto to conceal criminal proceeds, laundering over $20 million in the process.

Murarka’s operation primarily targeted individuals involved in criminal activities. Using dark web marketplaces, Murarka advertised his services as a means to launder money. He offered clients the opportunity to exchange crypto for cash. 

Once clients contacted him, Murarka established an exchange rate and directed them to send their cryptocurrency to designated addresses. From there, he coordinated a complex hawala operation. Hawala is a traditional South Asian method of transferring money without physical movement.

Murarka’s team packaged the laundered funds in various ways, including hiding cash between book pages or sealing it in multiple envelopes before mailing it to customers.

The latest move from law enforcement was able to prevent multiple financial account takeovers. This resulted in the seizure of over $1.4 million, counterfeit drugs, and millions of dollars in criminal proceeds.

“Using the internet, the defendant provided his assistance to countless other criminals as they tried to conceal their stolen money and illegal drug proceeds. This case highlights the global scope of cybercrime, as well as the demand for diligence and collaboration in fighting money laundering,” said Carlton S. Shier, US Attorney for the Eastern District of Kentucky.

Under federal law, Murarka must serve 85% of his prison sentence. After his release, the US Probation Office will supervise him for three years.

Moreover, the news comes as, in November, a Florida jury indicted nine individuals for laundering drug cartel funds through crypto, spanning 2020 to 2023. The group converted US drug sale cash to cryptocurrency, transferring it to cartel-linked wallets in Mexico and Colombia.

Similarly, in September, the US charged two Russian nationals for laundering $1.15 billion in illicit crypto for cybercriminals.

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