BlockBeats News, April 30th, according to The Los Angeles Times, 22-year-old Evan Tangman from Newport Beach was sentenced to 70 months in federal prison for money laundering related to a young scam gang. Tangman admitted that the gang laundered at least $3.5 million, which they stole from investors through social engineering tactics such as impersonating cryptocurrency exchange platform employees, totaling over $263 million in cryptocurrency.
Tangman’s rewards included luxury cars like a Lamborghini and a Porsche. Federal agents seized a black 2022 Rolls-Royce Ghost (worth over $300k) and a Porsche GT3 RS at his home. The gang was called “crypto kids,” consisting of teenagers who used the stolen funds to rent mansions and private jets, buy luxury goods, and spend up to $500k in a single night at nightclubs. Tangman also instructed others to destroy digital devices after gang members were arrested.
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