Indian Man Gets 10 Years for $20M Crypto Money Laundering Operation

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A 30-year-old man from India was given a 121-month sentence in a United States federal penitentiary following his conviction for conspiring to launder money.

Under the pseudonyms “elonmuskwhm” and “la2nyc,” Anurag Pramod Murarka managed a global operation that involved illicit funds transferring, which is more commonly known as an international money laundering scheme.

Indian National Sentenced to 10 Years for Crypto Money Laundering

As reported by the Justice Department, Murarka’s activities took place from April 2021 up until his apprehension on September 29, 2023. During this period, he employed cryptocurrencies to disguise illicit earnings and successfully laundered more than $20 million in the process.

As a crypto investor, I’ve come across mention of an entity known as Murarka who specialized in targeting individuals associated with illicit activities. On the deep web, Murarka marketed his services as a means to cleanse tainted funds. He enticed clients by providing them the chance to swap cryptocurrencies for actual cash.

When clients reached out to him, Murarka would set an exchange rate and guide them on where to transfer their cryptocurrencies. Afterward, he oversaw a sophisticated hawala transaction. Hawala refers to an ancient practice from South Asia that allows for the transfer of money without any physical transportation involved.

Murarka’s group concealed the laundered money using diverse methods such as inserting cash into book pages or stuffing it in numerous envelopes prior to sending it via post to their clients, for a more discreet transaction.

Recently, a strategic action by authorities successfully thwarted numerous attempts at unauthorized access to financial accounts, leading to the confiscation of approximately $1.4 million, bogus pharmaceuticals, and an estimated sum of illegal earnings in excess of millions.

In my analysis, I found that online, I aided numerous wrongdoers in their attempts to mask ill-gotten gains from criminal activities such as theft and drug trafficking. This case underscores the international reach of cybercrime, emphasizing the need for vigilance and cooperation when combating money laundering. As US Attorney for the Eastern District of Kentucky, I made these remarks.

According to federal regulations, Murarka is required to spend 85% of his prison term. Upon his discharge, the U.S. Probation Department will oversee him for a period of three years.

Additionally, it’s important to note that in November, a Florida grand jury brought charges against nine individuals for laundering money linked to drug cartels using cryptocurrencies over the period of 2020 to 2023. These accused individuals exchanged US proceeds from drug sales into cryptocurrency, which they then transferred to wallets associated with the cartel in Mexico and Colombia.

Back in September, I found myself implicated in an interesting turn of events as U.S. authorities accused two Russian individuals of laundering a staggering $1.15 billion in ill-gotten cryptocurrency on behalf of cybercriminals.

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2025-01-20 15:29