Founder of the cryptocurrency exchange RG Coins transfers embezzled cryptocurrency assets from prison, faces new charges by the U.S. Department of Justice

BlockBeats News, July 10th, the U.S. Department of Justice announced that Rossen Iossifov, the founder of the Bulgarian cryptocurrency exchange RG Coins, has been indicted for allegedly transferring around $290,000 of forfeited crypto assets while in prison, in violation of a court order. The prosecution stated that during his federal prison term until January 2024, he conspired to move the assets in question through multiple cryptocurrency exchanges and coin mixing services to evade government seizure.

Iossifov was previously convicted of laundering nearly $5 million, aiding a Romanian cyber fraud gang in handling illicit funds, and was sentenced to 111 months in prison in 2021. He was also ordered to pay over $2.6 million in restitution and forfeit related crypto assets. If convicted on these new charges, he could face an additional 25 years in prison.