TYLER, Texas – An Irving man has been sentenced to federal jail for his position in a cryptocurrency cash laundering conspiracy within the Jap District of Texas, introduced U.S. Lawyer Brit Featherston.
Deependra Bhusal, 46, pleaded responsible on April 30, 2021, to conspiracy to commit cash laundering and was sentenced to 46 months in federal jail at present by U.S. District Decide Jeremy D. Kernodle.
Based on info offered in court docket, Bhusal was concerned in a multi-year cash laundering conspiracy involving the laundering of prison proceeds derived from varied scams. Bhusal’s position within the cash laundering conspiracy was to open financial institution accounts and mailboxes that have been used to obtain and transact sufferer funds, to obtain the sufferer funds, to interact in subsequent monetary transactions, routinely structured in quantities underneath $10,000 in an effort to evade reporting necessities and to hide the character and supply of the prison proceeds, and to maneuver the prison proceeds to international co-conspirators. Bhusal and his co-conspirators routinely exchanged the prison proceeds for cryptocurrency and directed the cryptocurrency to wallets underneath the management of their international co-conspirators. In August 2020, Bhusal and his co-conspirators traveled to Longview, Texas, the place they tried to alternate roughly $450,000 in prison proceeds for Bitcoin.
In the midst of the operation, Bhusal was personally accountable for laundering $1,437,358.99 in prison proceeds.
On March 10, 2022, co-conspirators Lois Boyd, 75, of Amelia Court docket Home, Virginia, and Manik Mehtani, 33, of McLean, Virginia, have been named in an indictment returned by a federal grand jury, charging them with a violation of the Journey Act, cash laundering, and cash laundering conspiracy.
If convicted, Boyd and Mehtani withstand 20 years in federal jail. A grand jury indictment will not be proof of guilt. A defendant is presumed harmless till confirmed responsible past an inexpensive doubt in a court docket of regulation.
This effort is a part of an Organized Crime Drug Enforcement Job Forces (OCDETF) operation. OCDETF identifies, disrupts, and dismantles the highest-level prison organizations that threaten the USA utilizing a prosecutor-led, intelligence-driven, multi-agency strategy. Further details about the OCDETF Program may be discovered at https://www.justice.gov/OCDETF.
This case is being investigated by the U.S. Secret Service and the U.S. Postal Inspection Service and is being prosecuted by Assistant U.S. Attorneys Nathaniel C. Kummerfeld and L. Frank Coan, Jr.