Rossen Iossifov Charged Over Alleged $290,000 Seized Crypto Scheme
Summary
Prosecutors say Rossen G. Iossifov conspired to move $290,000 in government-seized cryptocurrency through exchanges and mixing services while imprisoned. He faces up to 25 years if convicted.
Key points
- Iossifov was charged in federal court with removing property to prevent seizure and conspiracy to commit money laundering.
- Prosecutors allege that in January 2024, while incarcerated, he conspired with others to move $290,000 in cryptocurrency from a seized account.
- The funds were allegedly routed through multiple cryptocurrency exchanges and mixing services to keep them from the government.
- Iossifov was previously convicted for laundering money through RG Coins for members of the Alexandria Online Auction Fraud Network.
- The court ordered restitution of more than $2.6 million in the earlier case; Iossifov faces up to 25 years if convicted of the new charges.
Article Details
- Event Type
- Criminal charges for alleged theft and laundering of government-seized cryptocurrency
- Impact
- Prosecutors allege Rossen G. Iossifov conspired to move $290,000 in seized cryptocurrency while incarcerated, routing it through exchanges and mixing services. He was also previously convicted for laundering nearly $5 million for members of a fraud network that victimized at least 900 Americans. The court ordered restitution exceeding $2.6 million in the earlier case and forfeiture of the cryptocurrency at issue in the new case.
People
Threat Actors
Alexandria Online Auction Fraud NetworkA fraud ring whose members allegedly posted fabricated goods listings, defrauded victims, and converted victims’ payments into cryptocurrency for laundering.Rossen G. IossifovProsecutors allege he conspired to move $290,000 in seized cryptocurrency while incarcerated. He was previously convicted of laundering money for fraudsters through RG Coins.
Countries
Bulgariaarose from the defendant’s ownership and operation of RG Coins, a cryptocurrency exchange in Sofia, Bulgaria, whose clients included Romanian members of the Alexandria Online Auction Fraud Network (a fraud ringUnited States“Iossifov’s deliberate attempt to remove and launder lawfully seized funds is a direct challenge to our justice system and a blatant disregard to his victims’ rights,” said U.S.