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Rhode Island Business Owner Pleads Guilty to Money Laundering
BOSTON – Craig Clayton, a 75-year-old business owner from Rhode Island, pleaded guilty to laundering tens of millions of dollars in proceeds from internet fraud schemes through his accounting and “virtual CFO” business, Rochart Consulting, in federal court in Boston on May 8, 2025.
Clayton, of Cranston, R.I., pleaded guilty to one count of money laundering conspiracy and one count of obstruction of justice. U.S. District Court Judge Richard G. Stearns scheduled sentencing for August 13, 2025.
From 2019 to 2021, Clayton and others used his accounting and “virtual CFO” business as a front to launder the proceeds of internet fraud schemes. As part of the conspiracy, Clayton founded shell companies to open business bank accounts in Rhode Island and Massachusetts, through which he laundered the proceeds of internet fraud schemes on behalf of his foreign-based clients. In total, Clayton laundered more than $35 million.
Clayton also attempted to obstruct the investigation by making several false statements to federal agents during an interview. He told investigators and bank personnel that his shell companies were legitimate businesses, among other things.
The charge of conspiracy to commit money laundering provides for a sentence of up to 20 years in prison, three years of supervised release, and a fine of $500,000 or twice the value of the proceeds, whichever is greater. The charge of obstruction of justice provides for a sentence of up to 20 years in prison, three years of supervised release, and a fine of $250,000.
United States Attorney Leah B. Foley and other federal officials announced the guilty plea today. Assistant United States Attorneys Ian J. Stearns, Kaitlin R. O’Donnell, and Alexandra Amrhein are prosecuting the case.
Valuable assistance was provided by the Internal Revenue Service, Criminal Investigation, and the United States Postal Inspection Service.
Key Facts
- State: Massachusetts
- Category: Fraud & Financial Crimes|White Collar Crime
- Source: DOJ Press Release â†â€â€
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