Money Launderer Sentenced to 70 Months Over $263M Crypto Social-Engineering Scheme

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In brief

Evan Tangeman, 22, of Newport Beach was sentenced to 70 months successful national situation for wealth laundering.
The transgression endeavor helium worked with allegedly stole much than $263 cardinal successful cryptocurrency, with Tangeman admitting to having laundered astatine slightest $3.5 cardinal for the organization.
Law enforcement seized luxury vehicles from his residence including a 2022 Rolls Royce Ghost and Porsche GT3 RS.

A 22-year-old California antheral was sentenced to 70 months successful national situation Friday for laundering millions of dollars successful stolen cryptocurrency proceeds for a “multi-state transgression enterprise” that stole much than $263 million.

Evan Tangeman of Newport Beach was besides also ordered to service 3 years of supervised merchandise by U.S. District Judge Colleen Kollar-Kotelly.

Evan Tangeman, 22, of Newport Beach, California, was sentenced contiguous to 70 months successful prison for laundering millions of dollars generated by an elaborate societal engineering scheme orchestrated by a multi-state criminal enterprise that stole much than $263 million in cryptocurrency… pic.twitter.com/LwV1Usb0jY

— U.S. Attorney DC (@USAO_DC) April 24, 2026

Tangeman pleaded blameworthy to participating successful a RICO conspiracy successful December 2025, admitting helium laundered astatine slightest $3.5 cardinal for a transgression endeavor that allegedly stole much than $263 cardinal successful cryptocurrency. The enactment operated from October 2023 done astatine slightest May 2025, increasing from friendships developed connected online gaming platforms, according to tribunal documents.

His admittance marked the ninth blameworthy plea secured successful this investigation. When instrumentality enforcement searched Tangeman's residence, they seized vehicles including a 2022 Rolls Royce Ghost valued astatine much than $300,000 and a Porsche GT3 RS.

The stolen cryptocurrency was “built connected greed truthful brazen it borders connected the cartoonish,” U.S. Attorney Jeanine Ferris Pirro said, adding that they, “stole millions, spent it connected half-million-dollar nightclub tabs, Lamborghinis, and Rolexes." Members of the endeavor purchased luxury homes valued betwixt $4 cardinal and astir $9 cardinal successful Los Angeles and Miami, paying monthly rental costs ranging from $40,000 to $80,000.

Prosecutors emphasized that Tangeman's crimes extended beyond wealth laundering to progressive obstruction of justice. "When his co-conspirators were arrested, helium moved to destruct the evidence. That is consciousness of guilt, and this bureau and the tribunal person treated that accordingly," Pirro said successful the aforesaid statement.

The U.S. Attorney's Office for the District of Columbia, which prosecuted the case, highlighted however the defendant's attempts to screen his tracks influenced the sentencing decision.

The Tangeman sentencing represents the latest improvement successful national prosecutors' crackdown connected cryptocurrency-enabled fiscal crimes. In the aforesaid $263 cardinal social-engineering scheme, 8 different defendants person previously pleaded guilty to related charges.

Federal authorities person intensified enforcement against crypto wealth laundering operations, with the FBI precocious seizing a platform allegedly utilized to launder $70 cardinal from ransomware attacks. The authorities has besides pursued a teen who pleaded guilty to a $245 cardinal Bitcoin heist, highlighting instrumentality enforcement's absorption connected high-value crypto theft cases.