
A Nebraska resident and self-described cryptocurrency influencer, Charles O. Parks III, was sentenced in a New York federal court to one year and one day in prison for running a large-scale “cryptojacking” operation that stole more than $3.5 million in cloud-computing resources. Prosecutors said that between January and August 2021 Parks, operating online under the alias “CP3O,” set up shell entities such as MultiMillionaire LLC and CP3O LLC and pretended to build an online education platform. The ruse secured high-capacity accounts from two major cloud providers, which he used instead to run cryptocurrency-mining scripts that generated nearly $1 million in Ether, Litecoin and Monero while leaving the service providers with unpaid bills. Parks, 46, forfeited $500,000 in illicit proceeds and a Mercedes-Benz purchased with the gains; restitution will be determined at a later date. The investigation, led by the FBI’s New York Cyber Crimes Task Force, is part of a broader federal effort to curb cryptojacking and other forms of digital-asset fraud.
DOJ: The Defendant "helped set up numerous shell companies and dozens of bank accounts in the U.S. to illicitly move money and export-controlled goods. During the period charged in the indictment, more than $12 million passed through accounts owned or controlled by the defendant. https://t.co/40mjsnPaRc
(1/2) “The defendant lied to banks, facilitated the illegal export of ammunition and sensitive technology, and evaded income taxes, all as part of a global procurement and money laundering network operated on behalf of the Russian government,” stated U.S Attorney Nocella.
New Jersey Resident Sentenced to 30 Months in Prison for Role in Global Export Control and Sanctions Evasion Scheme https://t.co/4VEM8iTRyq (Announced with @TheJusticeDept @NewYorkFBI @CommerceGov and @IRSCI_NY)




