The US Department of Justice (DOJ) sentenced an Indian national to 121 months in prison for his involvement in a cryptocurrency money laundering scheme. Anurag Pramod Murarka laundered $20 million worth of cryptocurrencies through the darknet and the infamous international hawala network.
Murarka ran his scheme using aliases on the darknet named “elonmuskwhm” and “la2nyc” and operated as a cryptocurrency vendor. He facilitated the laundering of over $20 million worth of cryptocurrency proceeds linked to criminal activities. He guided the drug mafia and hackers to deposit their funds obtained by illegal activities. The 30-year-old then doled out the funds to clients across the US.
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$20 Million Cryptocurrency Laundering: Here’s How It Operated
After agreeing on an exchange rate with the clients, he instructed them to send cryptocurrency to a specific wallet address. The funds would then be converted into cash and disbursed to them through various methods. The methods include placing cash between a truck full of books and also in sealed envelopes. The other form of method Murarka used was the international hawala network.
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“Once the exchange rate had been set, Murarka, located in India, directed his customers to send cryptocurrency to certain cryptocurrency addresses. Murarka then worked through a complex, pre-arranged hawala operation emanating out of India to arrange for cash to be delivered to his employees in the United States,” said the US Justice Department during his sentencing to 121 months in prison.
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“Murarka’s network of employees throughout the United States and overseas would collect cash from Murarka’s hawala connections and then package the cash in a variety of ways, including between the pages of books and sealed in multiple envelopes, before mailing the cash to the customer. The defendant provided his assistance to countless other criminals as they tried to conceal their stolen money and illegal drug proceeds,” said U.S. Attorney Carlton S. Shier, IV.