Briefly
Evan Tangeman, 22, of Newport Seashore was sentenced to 70 months in federal jail for cash laundering.
The legal enterprise he labored with allegedly stole greater than $263 million in cryptocurrency, with Tangeman admitting to having laundered at the least $3.5 million for the group.
Legislation 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 thousands and thousands of {dollars} in stolen cryptocurrency proceeds for a “multi-state legal 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 collaborating in a RICO conspiracy in December 2025, admitting he laundered at the least $3.5 million for a legal enterprise that allegedly stole greater than $263 million in cryptocurrency. The group operated from October 2023 via at the least Could 2025, rising from friendships developed on on-line gaming platforms, in accordance with 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. Lawyer Jeanine Ferris Pirro stated, including that they, “stole thousands and thousands, spent it on half-million-dollar nightclub tabs, Lamborghinis, and Rolexes.” Members of the enterprise bought luxurious properties 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.
Prosecutors emphasised that Tangeman’s crimes prolonged past cash laundering to lively 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 stated in the identical assertion.
The U.S. Lawyer’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 determination.
The Tangeman sentencing represents the newest improvement 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 costs.
Federal authorities have intensified enforcement towards 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 a teen who pleaded responsible to a $245 million Bitcoin heist, highlighting legislation enforcement’s deal with high-value crypto theft circumstances.
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