Overview
- Mehta, 45, admitted to a RICO conspiracy and to laundering at least $25 million, charging a 10% fee to convert cryptocurrency into cash and wires.
- Prosecutors say he formed shell companies, used false wire descriptions, arranged straw signers, titled luxury cars to conceal ownership, and once delivered about $500,000 in cash.
- Court filings describe a multi-state enterprise that grew from online gaming friendships and assigned roles including hackers, callers, launderers, and residential burglars.
- The scheme includes the Aug. 18, 2024 theft of more than 4,100 Bitcoin from a Washington, D.C., victim, valued at $263 million then and about $384.5 million this week.
- Authorities say Mehta is detained pending sentencing, has agreed to forfeit assets, and is one of multiple defendants being prosecuted by the U.S. Attorney’s Office with the FBI and IRS-CI.