According to court documents filed in the Southern District of New York on October 18, the FBI alleges that six individuals operated an illegal money transfer business through crypto.
They reportedly used the darknet to convert $30 million in Bitcoin and various other cryptocurrencies into cash between July 2021 and September 2023. The process involved utilizing the U.S. postal system to exchange crypto and receive cash directly.
The six defendants are Shaileshkumar Goyani, Brijeshkumar Patel, Hirenkumar Patel, Naineshkumar Patel, Nileshkumar Patel, and Raju Patel. Simultaneously, the FBI has requested the court to issue arrest warrants for these individuals.
One co-conspirator admitted to earning around $30 million over the past three years through the money exchange scheme. Moreover, this individual revealed that the majority of their clients were drug traffickers and hackers.
It is known that the FBI apprehended an individual earlier this year but did not disclose their identity. This person later became a confidential informant, cooperating with law enforcement agencies for eight months to investigate 15 money laundering cases, with an approximate total value of $15 million.
Notably, the FBI had been monitoring and seizing cryptocurrency related to illegal activities. The agency had confiscated $3.36 billion from Silk Road fraudster James Z.