Former FBI Agent Admits Stealing Approximately $2.47 Million in Cryptocurrency, Faces Up to 20 Years in Prison
10 minutes ago
The U.S. Department of Justice (DOJ) announced that former FBI agent Patrick Steven Yaroch has pleaded guilty to wire fraud and money laundering, after he used wallet credentials collected during FBI investigations to steal approximately $2.47 million in cryptocurrency. The 37-year-old faces up to 20 years in prison and is scheduled to be sentenced on March 4, 2027. Prosecutors stated Yaroch began his illegal activity no later than December 2024, leveraging wallet credentials tied to 35 FBI investigations to execute around 100 fraudulent transfers. The stolen wallets included those controlled by investigation subjects, state actors, and at least one wallet created by the FBI for an operation. He then converted the cryptocurrency and made multiple transfers to obscure the funds’ origins; some proceeds were used to repay credit cards, auto loans, and other debts. Yaroch also consulted ChatGPT about investments and relocating to the European Union, and after receiving advice on buying a vineyard in Portugal, he hired a local lawyer to secure a tax identification number. He voluntarily reported his conduct to the FBI in July. The factual recitation in the plea agreement notes that his actions compromised multiple investigations into criminal groups and hostile nations, as well as sources and methods for foreign intelligence collection.
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