Montana man launders over $2.4 million using cryptocurrency

According to a US judicial website, a Montana man has been convicted of cryptocurrency money laundering. After a three-day trial, 73 year old Randall V. Rule (formerly a resident of Calispell, Montana) was found guilty of all charges by the jury. On November 16, 2022, a federal grand jury issued an indictment accusing Randall V. Rule and former Irmo, South Carolina resident Gregory C. Nysewander of money laundering conspiracy, money laundering, and conspiracy to violate the Bank Secrecy Act. According to the indictment, Rule and Nysewander are suspected of conspiring with others to launder the proceeds of telecom fraud and email fraud through cryptocurrency. The defendant converted the funds into cryptocurrency and sent the cryptocurrency to an account controlled by domestic and foreign accomplices. The defendant and its accomplices made false statements and concealed important facts to avoid discovering the fraudulent nature of deposits, wire transfers, and transfers. The defendant also made false statements and concealed important facts when filling out account opening documents and communicating with financial institutions and cryptocurrency exchanges. During the conspiracy process, Rule, Nysewander, and their accomplices laundered over $2.4 million.