Crypto ATM founder hit with $10M money-laundering charges
The post Crypto ATM founder hit with $10M money-laundering charges appeared com. Chicago-area businessman Firas Isa, 36, was indicted for heading a $10-million money laundering conspiracy in which he ran proceeds through an unlicensed cryptocurrency exchange. Isa is the founder and CEO of Virtual Assets LLC, which owns and operates the “Crypto Dispensers” network of cryptocurrency ATMs across the United States. The company’s machines enable users to buy digital currencies in exchange for cash, cheques, and other forms of payment, providing a quick and convenient way for people to purchase cryptocurrency. Isa transformed the funds into cryptocurrency and deposited them into virtual wallets to conceal the source of the money, along with who owned it and controlled it, according to the indictment. Prosecutors said he was well aware the money stemmed from wire fraud and drug offenses. Isa and Virtual Assets LLC have each been charged with one count of conspiracy to commit money laundering. If found guilty, he could face up to 20 years in federal prison. Both have pleaded not guilty. U. S. District Judge Elaine E. Bucklo set a status hearing for Jan. 30, 2026, in federal court in Chicago. Numerous federal law enforcement agencies, including the U. S. Attorney’s Office, Homeland Security Investigations, the Federal Bureau of Investigation (FBI), the Internal Revenue Service’s Criminal Division, and the United States Postal Inspection Service, announced the charges together. Officials stressed that an indictment is not evidence of guilt and Isa is presumed innocent until proven guilty beyond a reasonable doubt. Officials issue alert on crypto ATMs Authorities also issued a warning about crypto ATMs. These machines, sold as a convenient way to enter the digital currency world, can also be used to launder money and facilitate anonymous cash transactions. Chicago alone has more than 1, 000 crypto ATMs, making the city a hotspot for a range of both legitimate and illicit transactions. Criminals can.
