New York Man Allegedly Laundered Fraud Proceeds Through Bitcoin in Multi-Million Dollar Scheme
2025-07-04 05:44:12
Main Idea
The FBI has charged Tushal Rathod of New York for laundering $1.7 million through counterfeit checks and Bitcoin, highlighting the use of cryptocurrency in fraud schemes.
Key Points
1. Tushal Rathod allegedly orchestrated a fraud and money laundering operation from November 2021 to June 2024, generating $1.7 million in illicit proceeds.
2. The scheme involved counterfeit checks and business email compromise (BEC) scams, with funds converted into Bitcoin to obscure their origin.
3. Rathod purchased over 40 BTC in transactions worth approximately $900,000 between February 2023 and June 2024.
4. A key witness, Rathod’s former partner, provided information aiding the investigation.
5. Rathod faces up to 20 years in federal prison for charges including fraud and money laundering.
Description
The FBI has charged a New York man with laundering $1.7 million from counterfeit check and business email compromise scams into Bitcoin, highlighting ongoing crypto-related fraud risks. Tushal Rathod allegedly
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