US Department of Justice: Three arrested for allegedly stealing millions of dollars from banks and converting them into cryptocurrencies

Odaily News Prosecutors arrested three people on Thursday for allegedly stealing more than $10 million from banks and financial institutions, then converting the funds into cryptocurrency and transferring them to cryptocurrency exchanges abroad. According to the U.S. Attorneys Office for the Southern District of New York, 31-year-old Zhong Shi Gao, 37-year-old Naifeng Xu, and 41-year-old Fei Jiang were arrested and charged respectively with bank fraud conspiracy and conspiracy to commit wire fraud affecting financial institutions. , one count each of money laundering conspiracy and aggravated identity theft. The charges, if combined, carry a maximum penalty of 82 years in prison. U.S. Attorney Damian Williams said in a statement Thursday: “These charges should serve as a warning to fraudsters and cybercriminals who think they can hide their identities through cryptocurrency — and we will work with our partner agencies to find You and hold you accountable for your crimes. (The Block)