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U.S. prosecutors charged Bulgarian national Rossen G. Iossifov with stealing and laundering about $290,000 in cryptocurrency that had already been forfeited to the United States. According to the indictment, Iossifov conspired in January 2024 to move the seized funds through multiple cryptocurrency exchanges and illicit mixing services to keep the government from taking possession of the assets. He is charged in the Eastern District of Kentucky with removal of property to prevent seizure and conspiracy to commit money laundering.
Iossifov is already serving a 121-month federal sentence tied to a prior online auction fraud case involving the Alexandria Online Auction Fraud Network, which used fake Craigslist and eBay listings to defraud at least 900 Americans. Prosecutors said he operated RG Coins in Sofia, Bulgaria, and laundered nearly $5 million in cryptocurrency for network members in less than three years, earning more than $184,000 and later being ordered to pay over $2.6 million in restitution. If convicted on the new charges, he faces up to 25 additional years in prison.
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The U.S. Department of Justice announced new charges against Iossifov for removal of property to prevent seizure and conspiracy to commit money laundering. The charges were filed in the Eastern District of Kentucky and carry a potential maximum sentence of 25 additional years in prison.
In January 2024, prosecutors allege Iossifov conspired to move about $290,000 in cryptocurrency that had already been forfeited to the United States. The funds were allegedly routed through multiple exchanges and illicit mixing services to prevent the U.S. government from taking possession of them.
In 2021, Rossen G. Iossifov was convicted in a prior case tied to laundering cryptocurrency for an online auction fraud scheme that targeted U.S. victims. The case involved nearly $5 million in laundered cryptocurrency and resulted in a 121-month prison sentence and more than $2.6 million in restitution.
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