According to the U.S. DOJ, California resident Kunal Mehta admitted to laundering millions in cryptocurrency within a nationwide fraud ring that stole $263M through social engineering schemes.
The U.S. Department of Justice reported that California resident Kunal Mehta pleaded guilty to violating the RICO Act and laundering at least $25 million in cryptocurrency. Mehta was part of a criminal group that stole $263 million in crypto assets nationwide using social engineering tactics. The gang used illicit funds for extravagant spending on luxury cars, nightclubs, and private jets. Authorities say the case involves multiple defendants tied to extensive crypto fraud operations.