The founder of a Chicago cryptocurrency company has been indicted on charges that he helped launder at least $10 million in fraud and narcotics proceeds through his cash-to-crypto business, an indictment unsealed in federal court Tuesday alleged.
Firas Isa, 36, CEO of Virtual Assets LLC — which operated as Crypto Dispensers and ran crypto ATMs nationwide — allegedly converted illicit funds into cryptocurrency and routed them through virtual wallets to obscure their origins.
Prosecutors say Isa knew the money came from criminal activity.
Isa and his company each face one count of money laundering conspiracy, a charge carrying up to 20 years in federal prison.
Both have pleaded not guilty. A status hearing is set for Jan. 30, 2026, before U.S. District Judge Elaine E. Bucklo.
The case was announced by the U.S. Attorney's Office in Chicago along with HSI, the FBI, IRS Criminal Investigation, and the U.S. Postal Inspection Service.
Prosecutors note the indictment is not evidence of guilt and Isa is presumed innocent unless proven otherwise.
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