An Indian man, Anurag Pramod Murarka, has been sentenced to 121 months in prison in the US for running a global money laundering network that processed more than $20 million in illegal profits.
Case details
According to the ruling from Judge Gregory Van Tatenhove, Murarka used cryptocurrency trading platforms and hawala systems to launder money from illegal activities, including drug trafficking and cyberattacks.
• Operation period: From April 2021 to September 2023.
• Method:
• Using aliases like “elonmuskwhm” to advertise money laundering services on the black market.
• Receive cryptocurrency from customers, convert through hawala system from India and finally deliver cash through sophisticated methods like hiding in books and envelopes.
Investigators from #FBI and #USPIS found Murarka working with criminal groups and seized millions of dollars from his accounts. They also prevented more than $1.4 million in financial fraud and seized counterfeit drugs and illegal equipment.
Consequences and warnings from authorities
Carlton S. Shier IV, U.S. Attorney for the Eastern District of Kentucky, said the case demonstrates the global reach of cybercrime and the need for cooperation to combat money laundering, a crime that often accompanies other illegal activities.
Murarka will have to serve at least 85% of his sentence before being released on parole, and will be under supervised release for three years after his release.
Crypto scam warning
In 2023, investment scams in the US caused $4.57 billion in losses, of which 87% involved cryptocurrencies. Notable numbers:
• Total crypto losses: $3.96 billion (18 times higher than 2018).
• The most affected groups: Millennials and Gen X, with an average loss of $115,499/person.
Experts warn that the decentralized nature of cryptocurrencies makes them easy targets for scams. They advise investors to be cautious and do their research before entering the market.
Advice: Always double-check the project's origin and avoid being lured by offers of unusually high returns. #anhbacong