The FBI has brought charges against six individuals for their alleged involvement in an unlicensed money-transmitting business worth $30 million that operated using cryptocurrencies. The accused, namely Shaileshkumar Goyani, Brijeshkumar Patel, Hirenkumar Patel, Naineshkumar Patel, Nileshkumar Patel, and Raju Patel, reportedly conducted this illegal enterprise between July 2021 and September 2023 by utilizing the darknet to convert bitcoin and other cryptocurrencies into cash.
According to the unsealed affidavit from an FBI agent, the group operated without the necessary money transmitting license in New York. Notably, the court documents also mention an anonymous co-conspirator, who revealed that some clients profited from selling drugs, and the most affluent clients were hackers. This co-conspirator claimed to have made around $30 million in three years by exchanging cash for virtual currency.
Furthermore, in February 2023, law enforcement arrested an individual who had been mailing cash packages on behalf of the unnamed co-conspirator. This individual subsequently became a confidential source, cooperating with authorities for approximately eight months and participating in about 80 controlled cash pick-ups totaling around $15 million.
The court filing includes photographic and video evidence to support the claim that the defendants are not registered and lack a licensed money-transmitting business, which is obligatory in New York.
