US Charges Bulgarian Inmate With Trying to Divert Seized Crypto While in Prison
Summary
- The US Department of Justice said it filed additional charges against Bulgarian national Rossen Iossifov for concealment of seized assets and conspiracy to commit money laundering.
- Prosecutors said Iossifov was involved in the unauthorized withdrawal and transfer of cryptocurrency worth about $290,000 that had been seized by the US government.
- Iossifov, who was accused of converting proceeds from a Romanian criminal organization into Bitcoin (BTC), laundering the funds and cashing them out through Bulgaria-based crypto exchange RG Coins, could face an additional 25 years in prison.
Forecast Trend Report by Period
A Bulgarian man serving a US prison sentence for large-scale cryptocurrency money laundering has been charged again, this time over allegations that he tried to divert seized digital assets while behind bars.
The US Department of Justice on July 10 charged Rossen Iossifov with concealment of seized assets and conspiracy to commit money laundering, Bloomberg reported. Prosecutors allege that he was involved in the unauthorized withdrawal and transfer of cryptocurrency worth about $290,000 that had been seized by the US government.
Iossifov was convicted of money laundering in 2021 and sentenced to more than nine years in prison. The Justice Department said at the time that he participated in converting proceeds from a Romanian criminal organization into Bitcoin and laundering the funds.
According to prosecutors, the group defrauded victims by posting fake listings for expensive goods that did not exist on eBay and Amazon. Investigators said the criminal proceeds were then converted into Bitcoin, cashed out through RG Coins, a Bulgaria-based crypto exchange operated by Iossifov, and delivered to the organization.
The Justice Department said Iossifov could face up to 25 additional years in prison if convicted on all the new charges.
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