Federal prosecutors have filed charges against the founder of a cryptocurrency ATM company based in Chicago.
They accused him of moving over $10 million in illegally obtained funds into digital wallets to hide their source.
The suspect, Firas Isa, is alleged to have run a company called Virtual Assets LLC, also known as Crypto Dispensers.
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According to court records published in Illinois, Isa and his company received funds from people involved in criminal activity, as well as from those affected by fraud.
Prosecutors claimed that these funds were processed through the ATMs, converted to digital currency, and then transferred to other cryptocurrency accounts.
While crypto ATMs are expected to follow basic customer identification checks to prevent money laundering, officials said Isa failed to apply those rules. The Department of Justice stated that Isa was aware that the funds were connected to fraud.
Both Isa and his company have been charged with one count of conspiracy to commit money laundering. This charge carries a potential sentence of up to 20 years in prison. They have pleaded not guilty.
A hearing is set for January 30, 2026, before US District Judge Elaine Bucklo. Until then, both Isa and Virtual Assets LLC are considered innocent unless prosecutors can prove their guilt in court.
On November 13, an Oklahoma man, Travis Ford, was sentenced to five years in prison for leading a cryptocurrency investment scam that took in millions of dollars from investors. How did the case unfold? Read the full story.
