Former FBI Agent Pleads Guilty to Stealing Approximately $2.47 Million in Cryptocurrency, Faces Up to 20 Years in Prison

Odaily reports: According to a U.S. Department of Justice announcement, former Federal Bureau of Investigation (FBI) agent Patrick Steven Yaroch pleaded guilty on November 5 to wire fraud and money laundering. He used his official access to obtain cryptocurrency credentials collected during FBI investigations, carrying out approximately 100 fraudulent transfers across 35 separate investigations and illegally acquiring approximately $2,474,400 in crypto assets.

Court documents show that the stolen assets came from wallets controlled by investigation targets and hostile state actors, as well as at least one wallet created by the FBI for investigative operations. Yaroch obscured the source of funds through currency exchanges and multiple transfers, and used some of the funds to pay off personal debts.

The U.S. Department of Justice stated that his actions compromised multiple investigations and related intelligence sources and methods. Sentencing in the case is scheduled for March 4, 2027, and Yaroch faces up to 20 years in prison.