A 21 year old man from Indiana has pleaded guilty to an Indictment in South Dakota that charged him with Conspiracy to Commit Wire Fraud and Conspiracy to Launder Monetary Instruments.
Evan Frederick Light appeared in court in South Dakota this week (Sept. 30, 2024) and
The maximum penalty for each count upon conviction is 20 years in custody and/or a fine, three years of supervised release, and a $200 special assessment to the Federal Crime Victims Fund. Restitution may also be ordered.
“These convictions reflect the relentless efforts of the U.S. Attorney’s Office and the FBI in identifying a cybercriminal, holding him accountable, and prioritizing the victims of his crimes,” said U.S. Attorney Ramsdell. “Although this defendant tried to hide in the shadows of a cyber underworld, he was not beyond the reach of our team, and today’s guilty verdicts should serve as a reminder that this Office and its law enforcement partners will bring cyber criminals to justice, regardless how sophisticated their crimes may be.”
“This case underscores the FBI’s unwavering commitment to identifying and bringing cybercriminals to justice,” said Special Agent in Charge Alvin M. Winston Sr. of FBI Minneapolis. “Cyber-intrusions pose a serious threat to both individuals and businesses, and we are dedicated to protecting the public from these sophisticated attacks. The FBI will continue to work alongside our partners to ensure that those who exploit technology for financial gain are held accountable, no matter how complex or far-reaching their schemes may be.”
According to court documents, in February of 2022, Light was involved in a cyber-intrusion involving an investment holdings company located in Sioux Falls, South Dakota. During the cyber-intrusion, Light stole customer personal identifiable information (“PII”) and then stole cryptocurrency worth over $37 million from nearly 600 victims. He acted with one or more unidentified perpetrators.
Specifically, during the cyber intrusion, Light accessed the identity of a real client of the investment holdings company and unlawfully utilized that identity to infiltrate the investment holdings company’s computer servers. After successfully accessing the computer servers, he then exfiltrated from the servers the PII of hundreds of other clients, using this access to steal virtual currencies from the clients who held such assets with the investment holdings company.
The stolen cryptocurrency, under Light’s control, was then funneled to various locations throughout the world, including multiple mixing services and gambling websites to conceal his identity and to hide the virtual currency. Light’s conduct adversely affected victims all over the world, including South Dakota. As a result of his conduct, the total loss was approximately $37 million.
The investigation was conducted by the FBI. The case is being prosecuted by Assistant U.S. Attorney Jeremy R. Jehangiri.
A presentence investigation was ordered and a sentencing date has not been set. The defendant was remanded to the custody of the U.S. Marshals Service pending sentencing.
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