Oleg Korniev, a Ukrainian-Russian dual citizen, pleaded guilty to running a money laundering organization that helped cybercriminals steal millions from U.S. bank accounts. He faces up to 50 years in prison.
Why it matters. The conviction highlights the U.S. government's commitment to international cybercrime and money laundering, affecting global financial security.
Since 2020, CCIPS has secured the conviction of over 180 cyber and IP criminals
this international criminal organization recruited over 15,000 U.S.-based money mules
he intended to launder over $9.7 million from cybercriminals
Korniev admitted that YMCO was responsible for over $14.7 million in actual and intended losses by confirmed victims
Korniev also agreed to provide full restitution to known victims to compensate them for their actual losses
Since 2020, CCIPS has secured the conviction of over 180 cyber and IP criminals, and court orders for the return of over $350 million in victim funds.
YMCO’s services operated through online infrastructure
the court ordered each defendant to pay over $9.1 million in restitution to numerous U.S. victims.
to launder at least $10 million stolen by hackers
and did launder at least $7 million.
Korniev was one of the leaders of Your Mule Cashout (YMCO).
from over 750 U.S. bank accounts
Oleg Korniev, 42, a dual citizen of Ukraine and Russia, pleaded guilty today to running a sophisticated international money laundering organization that laundered millions of dollars stolen from United States victims by cybercriminals around the world. In total, this international criminal organization recruited over 15,000 U.S.-based money mules to launder at least $10 million stolen by hackers…
Korniev pleaded guilty to conspiracy to commit money laundering, money laundering, conspiracy to commit computer fraud, conspiracy to commit access device theft, and aggravated identity theft. Sentencing will be set at a later date. He faces a minimum penalty of two years in prison and maximum penalty of 50 years in prison.
