Man Pleads Guilty to Running 15,000-Mule Network That Laundered Money for Cybercriminals
Summary
Oleg Korniev pleaded guilty to helping run a money-laundering operation that recruited more than 15,000 U.S. money mules and processed millions stolen by cybercriminals. He faces up to 50 years in prison.
Key points
- Korniev, a Ukrainian-Russian dual citizen, was one of the leaders of Your Mule Cashout, which operated from 2007.
- The organization recruited U.S. residents through spam emails and fake-company job offers, then used their bank accounts to receive stolen funds.
- Mules wired money through Western Union and MoneyGram to cash-out contractors in Moldova, Ukraine, Russia, or Latvia.
- The operation processed more than $10 million stolen from over 750 U.S. bank accounts at more than 35 banks, and allegedly ran similar schemes in four other countries.
- Korniev admitted the operation caused over $14.7 million in actual and intended losses and that he laundered at least $7 million.
- He pleaded guilty to money laundering, aggravated identity theft, and related conspiracy charges; he faces a minimum of two years and a maximum of 50 years in prison.
Article Details
- Event Type
- Guilty plea in a cybercrime-related money-laundering case.
- Impact
- Oleg Korniev admitted that the operation he ran with accomplices laundered at least $7 million and was responsible for more than $14.7 million in actual and intended losses to confirmed victims. The operation allegedly used over 15,000 U.S. money mules and processed stolen funds linked to over 750 U.S. bank accounts.
People
Countries
AustraliaYMCO also allegedly ran similar schemes in Germany, Italy, the United Kingdom, and Australia, processing more than $10 million stolen by cybercrime gangs from over 750 U.S.GermanyYMCO also allegedly ran similar schemes in Germany, Italy, the United Kingdom, and Australia, processing more than $10 million stolen by cybercrime gangs from over 750 U.S.ItalyYMCO also allegedly ran similar schemes in Germany, Italy, the United Kingdom, and Australia, processing more than $10 million stolen by cybercrime gangs from over 750 U.S.LatviaCybercriminals sent stolen money to the mules' bank accounts, and the mules allegedly wired the illicit funds through Western Union and MoneyGram to "cash-out contractors" in Moldova, Ukraine, Russia, or Latvia.MoldovaCybercriminals sent stolen money to the mules' bank accounts, and the mules allegedly wired the illicit funds through Western Union and MoneyGram to "cash-out contractors" in Moldova, Ukraine, Russia, or Latvia.RussiaCybercriminals sent stolen money to the mules' bank accounts, and the mules allegedly wired the illicit funds through Western Union and MoneyGram to "cash-out contractors" in Moldova, Ukraine, Russia, or Latvia.UkraineCybercriminals sent stolen money to the mules' bank accounts, and the mules allegedly wired the illicit funds through Western Union and MoneyGram to "cash-out contractors" in Moldova, Ukraine, Russia, or Latvia.United KingdomYMCO also allegedly ran similar schemes in Germany, Italy, the United Kingdom, and Australia, processing more than $10 million stolen by cybercrime gangs from over 750 U.S.United States42-year-old Oleg Korniev was one of the leaders of Your Mule Cashout (YMCO), a criminal organization that has operated since September 2007 and used more than 15,000 money mules from the United States.