Founder of RGCoins Faces 20 Year Imprisonment

[mlawson71]

The owner of a small Bulgarian cryptocurrency exchange called RGcoins, Rosen Iossifov will be prosecuted for being involved in a sophisticated scam that involved stealing from US citizens and then laundering the stolen funds through cryptocurrency. A federal judge convicted him in the State of Kentucky on  counts of conspiracy to commit racketeering and money laundering.
US authorities began investigating RGcoins following the suspicion that the Bulgarian had aided a gang of Romanian money launderers.
According to official court documents, between 2014 and 2015, Iossifov and his accomplices conducted phishing attacks so they could victimize about 900 American citizens. They used fake ads on sites like eBay and Craigslist to promote expensive assets that did not actually exist.
People purchased products but never received them and the Romanian gang, which consisted of 14 people, used the crypto exchange to convert it to Bitcoin, thus committing money laundering.
Iossifov now faces a sentence of 20 years in prison, a fine of $250k, and three years of supervised release.
Source
I am glad the criminals have been caught and are facing justice. I wonder whether people will get their money back though.