Prosecutors detailed how Geoffrey K. Auyeung handled investor funds and redirected them through multiple financial channels as part of the conspiracy. The announcement states:
Investigators traced $97.1 million in domestic and international third-party wire transfers and deposits through accounts linked to Auyeung between June 2022 and July 2024, including approximately $24.7 million tied to about 35 victims. The Department of Justice (DOJ) explained:
FAQ ⏰ How much money was involved in the Washington crypto money laundering case? Federal prosecutors said the scheme involved nearly $100 million in investment fraud proceeds. Which cryptocurrencies were used in the alleged laundering scheme? Funds were used to purchase bitcoin, tether, USD Coin, and ethereum through major exchanges. How many bank and cryptocurrency accounts were opened by Geoffrey K. Auyeung? He opened at least 81 bank accounts and 19 cryptocurrency exchange accounts, according to prosecutors. What prison sentence are prosecutors recommending in the case? Prosecutors plan to recommend 63 months in prison at sentencing.
