Bulgarian Crypto Launderer Charged with Moving $290K from Prison

Rossen Iossifov, a Bulgarian national serving an 11-year prison sentence for laundering nearly $5 million in cryptocurrency, has been charged with conspiring to move $290,000 in forfeited crypto while already incarcerated.

The alleged scheme took place in January 2024, when Iossifov used multiple exchanges and mixing services to withdraw the funds from a court-ordered forfeiture. This is not his first run-in with the law: he owned and managed RG Coins, a cryptocurrency exchange based in Sofia, Bulgaria, and was convicted of racketeering and money-laundering conspiracies for helping Romanian scammers launder nearly $5 million.

If found guilty of the new charges, Iossifov faces up to 25 years in prison on top of his current sentence. Assistant Attorney General A. Tysen Duva said that defendants who 'flout lawfully entered orders' from earlier cases will be charged for obstruction.