Two members of a gang were sentenced to a combined 13 years in jail for laundering over $7.6 million through cryptocurrency, gained from war profiteering activities in Ukraine. Valeriy Popovych, 52, and Vitaliy Lutsak, 43, were convicted after a five-week trial at Wood Green Crown Court. Their illicit activities included purchasing a second London home worth nearly $1 million. The gang capitalized on the demand for vans and lorries in Ukraine amidst the conflict, utilizing criminal proceeds for these acquisitions. The investigation led by the Metropolitan Police uncovered over $14 million in cryptocurrency linked to their operations, revealing the role of unregulated cryptocurrency in enabling their profits. A third accomplice, Oksana Popovych, is scheduled for sentencing, and a fourth member, Semen Kuksov, received over five years for his involvement. Authorities emphasize that money laundering facilitates criminal enterprises and are determined to dismantle such networks.

Source đź”—