SoCal man laundered millions for ‘crypto kids' who used stolen loot to live lavishly [Los Angeles Times (CA)]
Coinbase Global, Inc. - Class A (COIN)
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Source: Los Angeles Times
Evan Tangeman, 22, of Newport Beach helped clean up and move the money on behalf of the crime group. Tangeman received luxury sports cars as a form of payment including a Lamborghini and a Porsche. A Newport Beach man has been sentenced to federal prison for laundering money for a group of young con artists who prosecutors said stole $263 million in cryptocurrency and used the loot to purchase luxury cars, rent out mansions and private jets and spend as much as $500,000 at nightclubs. Last week, U.S. District Court Judge Colleen Kollar-Kotelly sentenced 22-year-old Evan Tangeman to 70 months in federal prison after he pleaded guilty in December. She also ordered him to serve three years of supervised released. Tangeman admitted to federal authorities that he laundered at least $3.5 million for the group, which scammed more than $263 million in cryptocurrency from investors in the U.S. Federal authorities said Tangeman, whose monikers included “E,” “Tate” and “Evan|Exchanger
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