According to media reports, the US FBI has charged six Indians in a $1 million cryptocurrency scam. The six Indians (Shaileshkumar Goyani, Brijeshkumar Patel, Hirenkumar Patel, Naineshkumar Patel, Nileshkumar Patel and Raju Patel) allegedly operated an illegal money transmission business worth $30 million using cryptocurrencies, according to Coindesk report.
According to the FBI investigation, the six Indians conducted illegal business using the darknet to convert Bitcoin or other cryptocurrencies into cash between July 2021 and September 2023.
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The FBI began an investigation around April 2021 when one of the officials identified a vendor on multiple dark web marketplaces offering a service to send cash through the US Postal Service in exchange for Bitcoin or another cryptocurrency. .
Law enforcement arrested an individual who had been mailing packages containing cash from a post office in Westchester County, New York, according to a media report citing a court document.
The informant obtained the cash by meeting with people about three times a week and receiving amounts ranging from $100,000 to $300,000 each time. The locations were discussed on Telegram and WhatsApp.
The FBI investigation revealed that one of the men made frequent trips outside of New York, including New Jersey, Massachusetts, Georgia and Pennsylvania. Two other men traveled to and from South Carolina.
One of the detainees told authorities that his richest clients were hackers and that some made money selling drugs.
The six Indians conspired to illegally transfer money through an informal value transfer network, Coindesk added.
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Updated: October 25, 2023, 02:17 pm IST
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