Indian National Sentenced to 10 Years for Crypto Laundering
A 30-year-old Indian citizen has been sentenced to 121 months in a U.S. federal prison for conspiracy to commit money laundering.
Anurag Pramod Murarka operated an international money laundering business under the aliases “elonmuskwhm” and “la2nyc.”
Indian national sentenced to 10 years in prison for cryptocurrency money laundering
according to a statement According to information from the Department of Justice, Murarka’s operation began in April 2021 and ended with his arrest on September 29, 2023. He used cryptocurrency to hide the proceeds of crime, Laundered more than $20 million in the process.
Operation Murarka focuses on individuals involved in criminal activity. Mulaka used darknet markets to advertise his services as a means of laundering money. he Offer customers the opportunity to exchange cryptocurrencies cash.
Once a client contacts him, Murarka sets up exchange rate and instruct them to send cryptocurrencies to the specified address. From there, he coordinated a complex hawala operation. Hawala is a traditional South Asian method of sending money that does not require physical movement.
Mulaka’s team Packaging laundered funds in various waysincluding hiding cash between the pages of a book or sealing it in multiple envelopes before mailing it to customers.
The latest move by law enforcement could prevent multiple financial accounts from being taken over. The operation resulted in the seizure of more than $1.4 million in counterfeit drugs and Millions of dollars in criminal proceeds.
“The defendants used the Internet to provide assistance to countless other criminals seeking to conceal stolen money and illegal drug proceeds. This case highlights the global scope of cybercrime and the need for due diligence and cooperation in combating money laundering.” Carlton, U.S. Attorney for the Eastern District of Kentucky S. Shier said.
Under federal law, Murarka must serve 85 percent of his sentence. After his release from prison, he will be supervised by the U.S. Probation Office for three years.
Furthermore, this news was released in November Florida jury indicts nine people for laundering drug cartel funds Through cryptocurrencies, spanning 2020 to 2023. The group converted U.S. drug sales cash into cryptocurrency and moved it to cartel-linked wallets in Mexico and Colombia.
Likewise, in September, US charges two Russian citizens with laundering $1.15 billion Illegal cryptocurrencies for cybercriminals.
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