Kunal Mehta, a 45-year-old California resident nicknamed "Shrek," pleaded guilty to participating in a theft involving $263 million cryptocurrency, the Department of Justice announced Tuesday. Mehta pleaded guilty to violating the Anti-Corruption Organization Act (RICO) and assisting in laundering at least 25 million dollars.
According to the Justice Department, Mehta is the eighth guilty member of a 13-person cybercrime gang that has been operating since October 2023 to steal cryptocurrency from victims across the United States through social engineering and hacking.
Prosecutors allege that Mehta acted as a "money launderer" in the gang, providing cryptocurrency-to-cash money laundering services, and had delivered suitcases containing about $500,000 in cash to accomplices. The stolen funds were used to purchase nightclub spending, luxury cars, watches, jewelry, designer handbags, and rental properties in Los Angeles and Miami.
The property confiscated in the case included 28 luxury cars, including seven Lamborghinis, three Ferraris, a Rolls-Royce, and a McLaren.
American Man "Shrek" Pleads Guilty to 263 million Dollar Cryptocurrency Theft
2025-11-19 00:43:18
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