The founder of the cryptocurrency trading platform RG Coins transferred involved crypto assets while in prison and was additionally prosecuted by the U.S. Department of Justice

According to Decrypt, 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 approximately $290,000 in cryptocurrency assets that had been ordered to be forfeited by the court during his imprisonment.

Prosecutors stated that in January 2024, while serving his sentence in federal prison, he conspired to transfer the assets involved through multiple cryptocurrency exchanges and mixing services to evade government seizure.

Iossifov was previously sentenced to 111 months in prison in 2021 for participating in money laundering of nearly $5 million and assisting a Romanian cyber fraud gang in handling the proceeds, and he was ordered to pay restitution of over $2.6 million and forfeit related cryptocurrency assets. If the new charges are upheld, he could face an additional 25 years in prison.