Coinpaper 2026-04-26 10:12:39

DOJ Sentences California Man in $263M Crypto Scam Case

A California man was sentenced to 70 months in prison for helping launder money for a criminal group that stole more than $263 million in cryptocurrency, the Justice Department said. Evan Tangeman, 22, of Newport Beach, California, received the sentence in U.S. District Court in Washington. Judge Colleen Kollar-Kotelly also ordered him to serve three years of supervised release. Tangeman pleaded guilty on Dec. 8, 2025, to taking part in a RICO conspiracy. Prosecutors said he admitted helping launder at least $3.5 million for members of the group. His plea marked the ninth guilty plea in the investigation. DOJ Says Group Used Social Engineering Federal prosecutors said the criminal enterprise began no later than October 2023 and continued through at least May 2025. The group included people based in California, Connecticut, New York, Florida and abroad. According to the Justice Department, the network used social engineering to steal crypto from victims. Prosecutors said the group included database hackers, target identifiers, callers, organizers, money launderers and burglars who targeted hardware crypto wallets. The case centered on an August 2024 theft from a victim in Washington, D.C. Prosecutors said conspirators stole more than 4,100 Bitcoin, worth about $263 million at the time. By November 2025, the Bitcoin was worth more than $384.5 million. Stolen Crypto Funded Luxury Spending Prosecutors said Tangeman used the names “E,” “Tate” and “Evan|Exchanger.” They said he helped convert stolen cryptocurrency into cash and supported the group’s spending. The Justice Department said Tangeman helped rent luxury homes in Los Angeles and Miami. Prosecutors said the homes cost about $40,000 to $80,000 per month, while some properties were valued from $4 million to nearly $9 million. Authorities also seized high-end cars from Tangeman’s residence, including a 2022 Rolls Royce Ghost valued at more than $300,000 and a Porsche GT3 RS. Prosecutors said other members of the group spent stolen funds on luxury watches, private jets, security guards, exotic cars and nightclub services. Federal Agencies Continue Investigation The FBI Washington Field Office and IRS Criminal Investigation are investigating the case with the U.S. Attorney’s Office for the District of Columbia. Several other federal offices helped with the investigation, including FBI offices in Los Angeles and Miami. U.S. Attorney’s Offices in California, Florida and New Jersey also supported the case. The Justice Department said the investigation remains one of several federal actions targeting crypto theft, social engineering schemes and money laundering networks.

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