Overview

• Charles O. Parks III used shell entities such as MultiMillionaire LLC and CP3O LLC to secure more than $3.5 million in cloud computing resources under false pretenses.
• Between January and August 2021, he secretly mined Ethereum, Litecoin and Monero with the stolen capacity, generating close to $1 million in digital currency.
• Prosecutors say he laundered proceeds through cryptocurrency exchanges, NFT marketplaces, payment processors and banks to fund luxury purchases including a Mercedes-Benz, jewelry and first-class travel.
• After pleading guilty to wire fraud in December 2024, Parks avoided potential multi-decade sentences but received a term of one year and one day in prison.
• The court ordered forfeiture of $500,000 and a Mercedes-Benz with additional restitution to be determined at a later hearing.