Federal prosecutors in Seattle are seeking to forfeit $7.1 million in cryptocurrency linked to an alleged fraudulent oil and gas investment scheme that ran from June 2022 to July 2024. The Seattle US Attorney’s Office revealed that a civil action was filed to claim part of the $97 million generated by the scam, during which the perpetrators laundered money through various cryptocurrency accounts. These accounts were tied to individuals in Russia and Nigeria, who allegedly used victims' money to purchase cryptocurrency, sending a portion to exchanges in their countries. One individual, Geoffrey Auyeung, was indicted in August 2024 for his role, accused of using the stolen funds to buy Bitcoin and other cryptocurrencies, primarily sending them to Binance. Prosecutors claim they identified victims defrauded of $17.9 million, with additional victims expected to come forward. If the court approves the forfeiture request, the reclaimed funds will total $9.4 million for distribution among the victims.

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