A former FBI counterintelligence agent admitted to wire fraud and money laundering in stealing almost $2.5 million in cryptocurrency from unidentified adversarial nations and wallets that were under investigation.
Patrick Steven Yaroch, 37, used his investigative positions with access to FBI systems to steal cryptocurrency, then exchange and launder it through financial transactions to conceal its source and ownership.
Yaroch made about 100 fraudulent transfers related to 35 FBI investigations, gaining $2,474,380.66 in proceeds, according to a news release from the US Attorney’s Office, Eastern District of Virginia on Thursday.
He had earlier admitted to unauthorized transfers that involved about $1 million in digital assets, which was reported by Cointelegraph in August.
Yaroch paid off his debts and intended to use the proceeds to finance a new life in Portugal, where he planned to buy a vineyard, according to the statement.
The former agent admitted that his actions had compromised FBI investigations related to criminal groups and adversarial nations.
Yaroch faces up to 20 years in prison. His sentencing is set for March 4, 2027.
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