In short
Evan Tangeman, 22, of Newport Seashore was sentenced to 70 months in federal jail for cash laundering.
The felony enterprise he labored with allegedly stole greater than $263 million in cryptocurrency, with Tangeman admitting to having laundered at the very least $3.5 million for the group.
Regulation enforcement seized luxurious autos from his residence together with a 2022 Rolls Royce Ghost and Porsche GT3 RS.
A 22-year-old California man was sentenced to 70 months in federal jail Friday for laundering tens of millions of {dollars} in stolen cryptocurrency proceeds for a “multi-state felony enterprise” that stole greater than $263 million.
Evan Tangeman of Newport Seashore was additionally additionally ordered to serve three years of supervised launch by U.S. District Decide Colleen Kollar-Kotelly.
Tangeman pleaded responsible to taking part in a RICO conspiracy in December 2025, admitting he laundered at the very least $3.5 million for a felony enterprise that allegedly stole greater than $263 million in cryptocurrency. The group operated from October 2023 by at the very least Could 2025, rising from friendships developed on on-line gaming platforms, in response to courtroom paperwork.
His admission marked the ninth responsible plea secured on this investigation. When legislation enforcement searched Tangeman’s residence, they seized autos together with a 2022 Rolls Royce Ghost valued at greater than $300,000 and a Porsche GT3 RS.
The stolen cryptocurrency was “constructed on greed so brazen it borders on the cartoonish,” U.S. Legal professional Jeanine Ferris Pirro mentioned, including that they, “stole tens of millions, spent it on half-million-dollar nightclub tabs, Lamborghinis, and Rolexes.” Members of the enterprise bought luxurious houses valued between $4 million and practically $9 million in Los Angeles and Miami, paying month-to-month rental prices starting from $40,000 to $80,000.
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Prosecutors emphasised that Tangeman’s crimes prolonged past cash laundering to energetic obstruction of justice. “When his co-conspirators have been arrested, he moved to destroy the proof. That’s consciousness of guilt, and this workplace and the courtroom have handled that accordingly,” Pirro mentioned in the identical assertion.
The U.S. Legal professional’s Workplace for the District of Columbia, which prosecuted the case, highlighted how the defendant’s makes an attempt to cowl his tracks influenced the sentencing resolution.
The Tangeman sentencing represents the newest growth in federal prosecutors’ crackdown on cryptocurrency-enabled monetary crimes. In the identical $263 million social-engineering scheme, eight different defendants have beforehand pleaded responsible to associated prices.
Federal authorities have intensified enforcement in opposition to crypto cash laundering operations, with the FBI not too long ago seizing a platform allegedly used to launder $70 million from ransomware assaults. The federal government has additionally pursued an adolescent who pleaded responsible to a $245 million Bitcoin heist, highlighting legislation enforcement’s give attention to high-value crypto theft circumstances.
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