Dual-National Mule Network Leader Pleads Guilty in $7 Million Laundering Scheme

A Ukrainian-Russian dual citizen has pleaded guilty to leading an international money laundering operation that used thousands of deceived U.S. residents as money mules to move stolen funds abroad. The case illustrates how cybercrime proceeds are laundered through layered infrastructure and victims unwittingly recruited as intermediaries.

• YMCO recruited over 15,000 U.S.-based money mules to launder at least $10 million stolen from over 750 U.S. bank accounts.
• Korniev admitted YMCO was responsible for over $14.7 million in actual and intended losses by confirmed victims.
• He admitted intending to launder over $9.7 million from cybercriminals and having laundered at least $7 million.
• Korniev faces a minimum penalty of two years and a maximum of 50 years in prison, with sentencing set for a later date.
• Four other individuals previously convicted in the YMCO scheme received sentences ranging from around 37 to 63 months and were ordered to pay over $9.1 million in restitution each.