Leader of Cybercrime Money-Mule Network Pleads Guilty in US
Summary
Oleg Korniev, a leader of the Your Mule Cashout network, pleaded guilty to helping launder cybercriminals’ proceeds through money mules. The network allegedly recruited over 15,000 US residents and laundered at least $10 million stolen from bank accounts.
Key points
- Your Mule Cashout (YMCO) helped cybercriminals move funds stolen from US companies’ bank accounts overseas, primarily to Eastern Europe.
- The network allegedly recruited more than 15,000 US residents as money mules, deceiving them into forwarding stolen funds.
- YMCO is estimated to have laundered at least $10 million linked to more than 750 US bank accounts.
- Korniev admitted causing over $14.7 million in actual and intended losses and laundering at least $7 million.
- He pleaded guilty to money laundering, computer fraud, access device theft, and aggravated identity theft; he faces two to 50 years in prison.
- Four other YMCO members previously pleaded guilty after being arrested abroad and extradited to the US. Each received a 37-to-63-month sentence and was ordered to pay more than $9.1 million in restitution.
Article Details
- Event Type
- Oleg Korniev pleaded guilty to money laundering, computer fraud, access device theft, and aggravated identity theft for his role in a money-laundering network serving cybercriminals.
- Impact
- YMCO is estimated to have recruited more than 15,000 US residents as money mules and laundered at least $10 million stolen from over 750 US bank accounts. Korniev admitted causing over $14.7 million in actual and intended losses and laundering at least $7 million.
People
Countries
GeorgiaHe agreed to provide full restitution to known victims, and to forfeit cash seized upon his arrest in the Republic of Georgia.RussiaA dual citizen of Ukraine and Russia pleaded guilty in a US court for his role in a sophisticated money laundering organization used by cybercriminals.UkraineA dual citizen of Ukraine and Russia pleaded guilty in a US court for his role in a sophisticated money laundering organization used by cybercriminals.United States