SoCal crypto bro learns fate in $263M theft ring as fraudsters' 'fantastically extravagant' lives exposed
New York Post • • business
Key Points:
- Evan Tangeman, a 22-year-old from Newport Beach, was sentenced to 70 months in prison for laundering over $263 million in cryptocurrency linked to a multi-state criminal enterprise.
- Tangeman pleaded guilty to laundering at least $3.5 million, with the criminal operation involving hackers, organizers, and burglars targeting virtual currency wallets.
- The stolen funds financed a lavish lifestyle including luxury sports cars like a Rolls Royce and Lamborghini, private jet rentals, nightclub services, and multiple rental homes in major cities.
- Authorities described the enterprise's greed as "cartoonish," noting Tangeman's attempts to destroy evidence after co-conspirators were arrested, which influenced the severity of his sentence.
- Following his prison term, Tangeman will serve three years of supervised release, with the case investigated by multiple federal agencies including the FBI and IRS.
