US seeks forfeiture of $25 million in crypto linked to global scams
The funds are tied to investigations into romance and investment fraud networks operating internationally.
Jonathan Borba
US prosecutors are seeking forfeiture of $25 million in cryptocurrency tied to international fraud and laundering networks, according to court filings.
The funds are linked to romance and investment scams, with one source specifying the scams as romance and investment scams rather than general international fraud.
Amount of cryptocurrency sought for forfeiture in US court filings.
The forfeiture action is part of five separate investigations, according to a single source.
A dedicated federal scam task force has recovered more than $800 million, a single source reported.
Updates
The U.S. Secret Service, which traced the assets back to thousands of individual victims, identified the money laundering networks as being based in Southeast Asia.
Politics Correspondent · Talivio News
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Sources
- — US seeks forfeiture of $25 million in crypto tied to global fraud investigations (opens in a new window)
- — US seeks forfeiture of $25M in crypto tied to romance, investment scams (opens in a new window)
- — U.S. seeks forfeiture of $25 million in crypto tied to romance and investment scams (opens in a new window)