The post Man Who Went By ‘Shrek’ Pleads Guilty to Helping Steal $263 Million in Crypto appeared on BitcoinEthereumNews.com. In brief The eighth member of an alleged cybercrime ring pleaded guilty. Kunal Mehta was involved in money laundering, with a focus on exotic cars. He was the oldest co-defendant charged in the case. U.S. prosecutors notched their latest victory against members of an alleged cybercrime ring on Tuesday, highlighting a guilty plea from an individual operating under the guise of Shrek. Kunal Mehta, a 45-year-old based in California, admitted to a conspiracy charge under the Racketeer Influenced and Corrupt Organizations (RICO) Act, as well as helping launder at least $25 million in crypto, the Justice Department said in a press release. The individual used several pseudonyms, according to authorities, which weren’t limited to the classic DreamWorks animated movie series that originally debuted in 2001. He also went by “Papa” and “The Accountant” (which are also movie titles), the DOJ said. “We are committed to rooting out fraud and holding those responsible fully accountable,” U.S. Attorney Jeanine Ferris Pirro said in a statement. “Kunal Mehta along with his co-conspirators stole hundreds of millions of dollars in cryptocurrency from victims.” Authorities say that Mehta was part of a group that stole $263 million in crypto from victims across the U.S., as part of a sophisticated social engineering and hacking operation. He was the eighth person to admit to their involvement in the scheme, according to the press release. After laundering stolen funds through crypto exchanges and coin mixers, members of the group spent lavishly on “nightclubs, luxury automobiles, watches, jewelry, designer handbags, and rental homes in Los Angeles and Miami,” according to a previous DOJ press release. Authorities brought charges against 13 individuals in a superseding indictment that was unveiled in April, with some co-defendants being as young as 18 years old at the time. Mehta was the oldest, and…
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Man Who Went By ‘Shrek’ Pleads Guilty to Helping Steal $263 Million in Crypto
