U.S. Authorities Seize $7.1M Crypto in $100M Investment Fraud Case; Defendant Sentenced to 5 Years

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According to the U.S. Attorney's Office for the Western District of Washington, federal prosecutors on June 9, 2026, secured a five-year prison sentence for Geoffrey K. Auyeung and seized $7.1 million in cryptocurrency tied to a $100 million investment fraud scheme. Investigators traced the scheme to fake oil and gas storage investments in Rotterdam and Houston, with victims' funds flowing through 81 bank accounts and 19 cryptocurrency exchange accounts totaling $97.1 million. The proceeds were converted to bitcoin, tether, USD coin, and ethereum via Gemini, Bitstamp, and Coinbase before being transferred to Binance accounts. Auyeung also forfeited $2.3 million in seized bank funds and an Audi SQ8, with prosecutors seeking $24.7 million in restitution.
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