Federal Inmate Accused of Conspiring to Move $290,000 in Forfeited Crypto

A federal inmate is facing new charges related to cryptocurrency, accused of conspiring to move approximately $290,000 in forfeited digital assets. Rossen G. Iossifov, a Bulgarian national and 53-year-old prisoner, made an initial appearance in court on July 8.

The charges stem from an alleged January 2024 incident involving the unauthorized withdrawal and transfer of forfeited cryptocurrency through multiple exchanges and illicit mixing services, according to the DOJ. This action was intended to prevent the United States from taking possession of the funds.

Iossifov is currently serving a 111-month federal prison sentence following a 2021 conviction for participating in a fraud scheme that victimized Americans. He laundered nearly $5 million in cryptocurrency over less than three years, and was ordered to pay $2,642,297.43 in restitution and forfeit the subject cryptocurrency.