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CHICAGO - A federal grand jury indicted the founder of a Chicago cryptocurrency company accused of operating an illegal $10 million money laundering scheme.
What we know:
Firas Isa, 36, was accused of conspiring to launder proceeds from wire fraud and narcotics offenses through his business, Virtual Assets LLC, which operated as Crypto Dispensers.
The company ran cash-to-cryptocurrency exchanges and a network of crypto ATMs nationwide, allowing users to convert cash into digital currency.
According to the indictment unsealed in the Northern District of Illinois, people sent more than $10 million to Crypto Dispensers, Isa or a co-conspirator. Prosecutors alleged Isa converted the money into cryptocurrency and transferred it to virtual wallets to disguise the source of the funds while knowing the proceeds came from illegal activity.
Isa and Virtual Assets LLC were each charged with one count of money laundering conspiracy, a felony that could be punishable by up to 20 years in federal prison.
What's next:
A status hearing was scheduled for Jan. 30, 2026 in U.S. District court.
Tap here to read the full indictment.
The Source: The information in this report came from the U.S. Attorney's Office, Northern District of Illinois.