The FBI has taken action against six individuals for their alleged involvement in an unlicensed crypto money-transmitting business responsible for laundering over $30 million.
These charges come after a criminal complaint was filed in the Southern District of New York, naming Shaileshkumar Goyani, Brijeshkumar Patel, Hirenkumar Patel, Naineshkumar Patel, Nileshkumar Patel, and Raju Patel as the primary suspects.
Their alleged conspiracy revolved around the illegal transmission of money through an informal value transfer network.
The group’s activities primarily involved exchanging cryptocurrencies for cash, subsequently shipping the physical currency via the United States Postal Service (USPS).
Crucially, they lacked the requisite state licenses and federal registration for these operations. Prosecutors assert that the individuals knowingly transmitted funds that were either derived from criminal activities or intended to support unlawful endeavors.
The uncovering of this illicit operation transpired when the FBI arrested a confidential informant who had been involved in packaging and shipping cash on behalf of the group for an extensive 18-month period.
Following the arrest, the informant cooperated with authorities and played a pivotal role in approximately 80 controlled cash pickups, totaling $15 million, as part of their cooperation agreement.