TRENTON, NJ – Igor Buzyukov, 51, of Weston, Florida, is facing up to two decades behind bars after pleading guilty to conspiracy to commit money laundering. The scheme involved funneling over $9 million stolen from a California financial technology company through a network of shell corporations and offshore accounts.
Between February and July 2018, clients of Company-1, a San Jose, California-based fintech firm, were systematically robbed through a brazen account takeover operation. Impostors posing as company representatives successfully convinced Company-1 to add unauthorized bank accounts to victim profiles, diverting e-commerce payments into the hands of the criminals. The total losses exceeded $9 million.
Buzyukov acted as the key money launderer, controlling the unauthorized bank accounts registered under corporations he established in Florida. Once the stolen funds landed in these accounts, he swiftly transferred them to further accounts under his control before wiring the bulk of the money to individuals in Russia, Turkey, and Ukraine. This wasn’t a simple transfer; Buzyukov attempted to disguise the illicit transactions by creating fraudulent invoices, hoping to make the scheme appear legitimate.
Federal investigators with the U.S. Secret Service, led by Special Agent in Charge Mark McKevitt in Newark, painstakingly traced the flow of funds, ultimately leading them to Buzyukov. The investigation, spearheaded by Assistant U.S. Attorney Anthony Torntore of the Cybercrimes Unit in Newark, revealed the sophisticated nature of the operation and Buzyukov’s central role in obscuring the origin of the stolen money.
The charge of conspiracy to commit money laundering carries a statutory maximum of 20 years in prison and a fine of up to $500,000 – or twice the value of the laundered funds, whichever is greater. Buzyukov, represented by defense counsel Thomas Ambrosio, Esq. of Lyndhurst, NJ, is scheduled to be sentenced on March 26, 2020, leaving him facing a grim future.
U.S. Attorney Carpenito emphasized the Secret Service’s success in disrupting this international fraud scheme. While the identities of the original account takeover perpetrators remain undisclosed, Buzyukov’s guilty plea represents a significant blow to their operation and sends a clear message that laundering stolen funds will not be tolerated. The investigation remains ongoing, and authorities haven’t ruled out further charges or arrests.
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Key Facts
- Agency: U.S. Secret Service
- Category: Fraud & Financial Crimes
- Source: Official Press Release
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