Bulgarian "Money Launderer" Secretly Transfers $290,000 in Confiscated Cryptocurrency from Prison, Faces New Charges

CoinFeed July 10 news, according to Decrypt report, a Bulgarian man imprisoned for crypto money laundering is accused of transferring confiscated crypto assets while in prison. According to the U.S. Department of Justice, 53-year-old Rossen Iossifov was previously sentenced to 111 months in prison and ordered to forfeit relevant crypto assets for assisting a Romanian fraud ring in laundering nearly $5 million through his exchange RG Coins in Sofia, Bulgaria. Prosecutors said that in January 2024, he conspired with others to transfer approximately $290,000 of confiscated cryptocurrency through multiple exchanges and mixing services to evade government seizure. If convicted on the new charges, he could face up to an additional 25 years in prison.