Brothers Arrested for Stealing $25M in Cryptocurrency
Anton Peraire-Bueno, 24, of Boston, and James Pepaire-Bueno, 28, of New York were charged after an indictment was unsealed, according to the press release. The brothers were charged with conspiracy to commit wire fraud, wire fraud, and conspiracy to commit money laundering. The two men spent several months planning their scheme, the DOJ said.
“As alleged in today’s indictment, the Peraire-Bueno brothers stole $25 million in Ethereum cryptocurrency through a technologically sophisticated, cutting-edge scheme they plotted for months and executed in seconds,” said Deputy Attorney General Lisa Monaco. “Unfortunately for the defendants, their alleged crimes were no match for Department of Justice prosecutors and IRS agents, who unraveled this first-of-its-kind wire fraud and money laundering scheme.”
The DOJ is continuing to see cryptocurrency markets evolve, Monaco said. It will be one of their goals to continue to stop the continued fraud, support victims, and restore confidence in the crypto markets.
The two men involved in the crime spent their months planning the crime to learn the behaviors of their victims when it came to trading cryptocurrency. They also took numerous steps to conceal their identities.
The brothers will each face a maximum penalty of 20 years in prison for each count if they are convicted.
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