Ukrainian War Profiteers Receive 13 Times for$ 7.3 million in crypto cash fraud.

Two people of the a&nbsp group, which used crypto to steal money from battle profiteers, were jailed on Tuesday in the UK.

Following a five-week test, Vitaliy Lutsak, 43, and Valeriy Popovych, 52, were both found guilty on Monday, April 7, in Wood Green Crown Court. &nbsp,

For laundering more than £6 million ($ 7.6 million ) in total, the gang members received a combined 13-year prison sentence. A portion of that sum was used to purchase a second London home for less than £1 million ($ 1.27 million ).

On Friday, May 30, Oksana Popovych, 42, the woman of Valeriy’s next member, will be sentenced.

Semen Kuksov, a fifth defendant, received a sentence of more than five years in prison in February. According to a declaration from the Metropolitan Police, Kuksov controlled a portion of the laundered income. &nbsp,

Exploiting the need for vans and lorries in Ukraine as part of the war work led to the creation of the bitcoin. These were purchased with illicit funds.

The crew made the most money and profit in simply over a year due to the lack of crypto regulation.

The group was found guilty of operating an unlicensed cash service business and transferring judicial property following a police investigation.

Over$ 14 million in crypto was discovered by UK authorities during the investigation using computer-stored bitcoin wallets.

Mr. Popovych used his popularity in the second-hand vehicle market to clear legal cash, according to Metropolitan Police Detective Constable Harry Davies, who led the investigation. He even criticized the Ukrainian conflict as a profitable business opportunity.

Money fraud is not a criminal violence; it is the economic backbone that allows thieves to profit from their unlawful activities, according to Negeen Momtahen, Special Prosecutor for the Crown Prosecution Service.

We also found guilty last year of a number of important people of the same money-laundering system. I hope that this most recent trial demonstrates our unwavering commitment to halting these illegal activities and bringing all responsible parties to righteousness.