Science & Tech · Cybersecurity · 3 hrs ago
Former FBI agent pleads guilty to stealing nearly $2.5 million in crypto
Former FBI agent Patrick Steven Yaroch pleaded guilty to wire fraud and money laundering after stealing cryptocurrency from wallets linked to fraud victims and people under investigation.
He worked in the FBI’s Boston Division and later at FBI headquarters, including in its Counterintelligence and Espionage Division.
He used passphrases from FBI investigative systems to move cryptocurrency into his own wallets, then exchanged some of it for other cryptocurrencies.
The Justice Department said he made about 100 transfers tied to 35 FBI investigations and gained about $2.47 million.
His actions compromised multiple investigations, including cases involving nation-state adversaries and criminal groups, as well as FBI sources and investigative methods.
He is scheduled to be sentenced on March 4 and faces a maximum of 20 years in prison for each of the two charges.
Former FBI agent Patrick Steven Yaroch pleaded guilty to wire fraud and money laundering after stealing nearly $2.5 million in cryptocurrency.
He admitted using passphrases from FBI systems and another investigative-data platform to transfer funds from wallets linked to fraud victims and people under investigation.
The Justice Department said he made about 100 fraudulent transfers connected to 35 FBI investigations.
Prosecutors said his actions compromised FBI investigations, sources and investigative methods.
Yaroch is scheduled to be sentenced on March 4 and faces a maximum of 40 years in prison across the two charges.
- Who
- Patrick Steven Yaroch, a former FBI agent.
- What
- He pleaded guilty to wire fraud and money laundering after stealing cryptocurrency from wallets linked to fraud victims and people under FBI investigation.
- When
- He pleaded guilty on Thursday. The article does not give the date.
- Where
- Not stated.
- Why
- Not stated.
This story does not have two clearly opposing sides.
Yaroch transferred about $93,082 to one of his accounts and moved funds among other accounts to make payments, including for debts.
Yaroch reported the crypto theft to Justice Department and FBI headquarters employees, and the FBI placed him on administrative leave.
Yaroch was arrested at his residence and fired by the FBI.
Yaroch pleaded guilty to wire fraud and money laundering; the article does not specify the date.
Yaroch is scheduled to be sentenced; the article does not specify the year.
- Amount stolen
- Approximately $2,474,380.66
- Fraudulent transfers
- Approximately 100
- FBI investigations involved
- 35
- FBI Boston Division service
- 2017–2025
- Maximum sentence
- Up to 20 years for wire fraud and up to 20 years for money laundering
What people are saying
Throughout his wire fraud scheme, Yaroch conducted approximately 100 fraudulent transfers using credentials related to 35 separate FBI investigations. He illicitly gained approximately $2,474,380.66 in fraudulent proceeds.