The prosecutors stated that Tangeman pleaded guilty to participating in a RICO conspiracy before the court and admitted that he helped to launder at least $3.5 million of the stolen Bitcoin for members of the enterprise. In addition to the six-year sentence, the court also sentenced the defendant to serve three years of supervised release.
In laundering the stolen Bitcoin, Tangeman was responsible for converting the crypto into fiat cash and worked with real estate agents in Los Angeles to acquire large mansions for members of the criminal enterprise.
DOJ’s Scam Center Strike Force Seizes $700 Million in Crypto
