DOJ: 3 Members Of Miami With Defrauding Banks And Cryptocurrency Exchange Of More Than $4 Million

DOJ has charged three people with defrauding banks and a cryptocurrency exchange for $4 million. The defendants allegedly used stolen identities to buy cryptocurrency and later falsely claimed to banks that the purchases were unauthorized.

The three defendants — identified as Esteban Cabrera Da Corte, Luis Hernandez Gonzalez and Asdrubal Ramirez Meza — were arrested on Tuesday, according to a release. 

The DOJ alleges in an unsealed indictment that in early 2020 the Miami-based trio opened accounts on “a leading cryptocurrency exchange platform” using “photos of fake US passports, driver’s licenses and stolen personal identifying information.” They linked those accounts to several bank accounts, deposited money into those bank accounts using ATMs and bought more than $4 million worth of cryptocurrency, the indictment states. 

The cryptocurrency was subsequently moved to a wallet owned by the defendants and their accomplices outside the exchange, claims the DOJ. The defendants allegedly called the banks after the transfer was completed to falsely claim that the bitcoin purchases were prohibited, which caused the institutions to reverse the transactions.

According to the DOJ, the plan caused the exchange to lose more than $3.5 million in cryptocurrency and for banks to execute more than $4 million in bogus reversals.

“Cabrera, Hernandez, and Ramirez coordinated this large-scale operation to launder millions of dollars through cryptocurrency exchanges and U.S. banks, ultimately exploiting both the virtual currency market and the U.S. financial system,” 

Ricky J. Patel, the acting special agent-in-charge of Homeland Security Investigations in New York, said in a statement

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