Washington State Man Pleads Guilty to Money Laundering and Nearly $100 Million in Investment Scam Proceeds

2026-02-21 00:33:48

Abstract generation in progress

Deep Tide TechFlow News, February 21 — Geoffrey K. Auyeung, a 47-year-old resident of Newcastle, Washington, admitted to conspiracy to commit money laundering on February 20, 2026, in the Western District of Washington Federal Court. Auyeung established nine fake companies under the guise of oil and gas industry investments to deceive victims, transferring approximately $97.1 million in fraud proceeds into 81 bank accounts and 19 cryptocurrency accounts under his control, which were then quickly transferred to accounts controlled by co-conspirators in Russia and Nigeria. Investigations show that Auyeung profited at least $4.07 million from the scheme. Under the plea agreement, he will pay $24.7 million in restitution and forfeit approximately $10.1 million in assets. The prosecution recommends a sentence of 63 months in prison, with the final sentencing to be announced on May 12, 2026.

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

2 Likes