A Montana man has been convicted of conspiring to launder over $2.4 million through cryptocurrency, according to a statement from the U.S. Department of Justice on February 27.
Randall V. Rule, 73, formerly of Kalispell, Montana, was found guilty on all charges following a three-day trial before U.S. District Judge Jeremy D. Kernodle on February 26. Rule was indicted in 2022 alongside Gregory C. Nysewander, a South Carolina native.
The prosecutors revealed that Rule and Nysewander played a critical role in a money laundering network linked to fraudulent schemes, including romance scams, business email compromises, and real estate fraud. The two reportedly converted illicit funds into cryptocurrency, which was then transferred to accounts controlled by co-conspirators in the U.S. and abroad. To evade detection, they allegedly falsified transaction details and misled financial institutions and crypto exchanges about the nature of their transactions.
Rule faces up to 20 years in prison for each money laundering charge and an additional five years for conspiracy to violate the Bank Secrecy Act. His sentencing date will be set following further investigation.
Acting U.S. Attorney Abe McGlothin, Jr. emphasized the government’s commitment to prosecuting financial crimes.
“We will not stand by as our citizens are victimized by financial crimes and their life savings are stolen. We will aggressively pursue cases against scammers and against those who facilitate their crimes by laundering the criminal proceeds,”
He stated.
U.S. authorities achieved a significant victory in another crypto case. In a separate matter, Evan Frederick Light, a 22-year-old from Indiana, was sentenced to 20 years in federal prison for his involvement in a large cybercrime scheme. Light pleaded guilty on September 30, 2024, to charges of conspiracy to commit wire fraud and money laundering. He participated in a cryptocurrency theft operation that stole over $37 million from nearly 600 victims.
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