YMCO Leader Pleads Guilty to Laundering $10 Million Stolen From Hacked Bank Accounts
Summary
Oleg Korniev pleaded guilty for his role in YMCO, a money-laundering network that used more than 15,000 mules to move at least $10 million stolen from 750 U.S. bank accounts compromised with malware.
Key points
- Korniev pleaded guilty to money laundering, computer fraud conspiracy, access-device theft conspiracy, and aggravated identity theft.
- YMCO recruited more than 15,000 unwitting mules in several countries through fake company websites and sham job offers.
- The network laundered at least $10 million stolen from 750 U.S. bank accounts compromised using malware.
- Funds were transferred overseas, including through Western Union and MoneyGram, then returned to YMCO by cash-out contractors.
- Korniev faces a minimum of two years and a maximum of 50 years in prison.
Article Details
- Event Type
- Oleg Korniev pleaded guilty in U.S. federal court to money laundering charges and related conspiracy and identity-theft offenses connected to Your Mule Cashout (YMCO).
- Impact
- YMCO laundered at least $10 million in proceeds from 750 U.S. bank accounts compromised with malware, using more than 15,000 unwitting money mules. Korniev faces a prison sentence of two to 50 years.
People
Countries
Australiaset up a sophisticated network of mules in the U.S., as well as Germany, Italy, the United Kingdom and Australia.Germanyor “YMCO,” which from 2007 until 2014 set up a sophisticated network of mules in the U.S., as well as Germany, Italy, the United Kingdom and Australia.Italywhich from 2007 until 2014 set up a sophisticated network of mules in the U.S., as well as Germany, Italy, the United Kingdom and Australia.MoldovaRomaniaRussiaOleg Korniev, a 42-year-old dual citizen of Ukraine and Russia, was a principal of Your Mule Cashout, or “YMCO,” which from 2007 until 2014 set up a sophisticated network of mules in the U.S., as well as Germany, Italy,UkraineOleg Korniev, a 42-year-old dual citizen of Ukraine and Russia, was a principal of Your Mule Cashout, or “YMCO,” which from 2007 until 2014 set up a sophisticated network of mules in the U.S., as well as Germany, Italy,United Kingdom2007 until 2014 set up a sophisticated network of mules in the U.S., as well as Germany, Italy, the United Kingdom and Australia.United States