According to BlockBeats, on February 27th, the US Department of Justice announced that a Montana man has been convicted of a cryptocurrency money laundering conspiracy.
73 year old Randall V. Rule, who previously lived in Calispell, Montana, was found guilty on all charges by a jury after a three-day trial presided over by U.S. District Court Judge Jeremy D. Kerndle on February 26, 2025.
We will not stand idly by and watch our citizens become victims of financial crimes, with their savings stolen, "said acting US prosecutor McGlothin. We will actively prosecute fraudsters and those who help them by laundering the proceeds of their crimes
On November 16, 2022, Rule and Gregory C. Nysewander from Elmer, South Carolina were charged by a federal grand jury with involvement in money laundering conspiracies, money laundering, and conspiracy to violate the Bank Secrecy Act.
According to the indictment, Rule and Nysewander are accused of conspiring with others to launder money through cryptocurrency, wire transfer fraud, and gain profits. The defendant converted funds from dating fraud, commercial email intrusion, real estate fraud, and other fraudulent schemes into cryptocurrency and sent these cryptocurrencies to accounts controlled by domestic and foreign accomplices. The defendants and their accomplices made false statements and concealed important facts to avoid being discovered of the fraudulent nature of these deposits, wire transfers, and transfers, such as instructing accomplices and victims to label wire transfers as "loan repayment" and "advertising fees". The defendant also made false statements and concealed important facts when filling out account opening documents and communicating with financial institutions and cryptocurrency trading platforms. During the conspiracy, Rule, Nysewander, and their accomplices laundered over $2.4 million.
