Bulgarian exchange owner convicted over auction fraud scheme

Bulgarian exchange owner convicted over auction fraud scheme

The owner of a Bulgarian crypto exchange has been convicted of providing money laundering services to a Eastern European cyber fraud syndicate. Rossen Iossifov, a 53-year-old Bulgarian national and owner of the ‘RG Coins’ cryptocurrency exchange, has been convicted of operating a multi-million dollar money laundering ring as part of a transnational auction fraud scheme.Following a two-week trial Iossifov was found guilty by a federal jury in Frankfort, Kentucky, of conspiracy to commit money laundering and conspiracy to commit racketeering. The Kentucky resident will face sentencing on....


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