Oleg Korniev pleaded guilty on October 8 to five federal offenses tied to Your Mule Cashout (YMCO), an international money-laundering operation serving cybercriminals, the U.S. Department of Justice said. Korniev was one of the network’s leaders. According to the department, YMCO recruited more than 15,000 U.S.-based money mules and laundered at least $10 million stolen from more than 750 U.S. bank accounts. Korniev admitted laundering at least $7 million and agreed to provide full restitution to known victims, as well as forfeit cash seized when he was arrested in Georgia. Sentencing has not yet been set. He faces a minimum two-year penalty and a maximum of 50 years in prison.

Why it matters

  • The case shows how recruited account holders helped move stolen funds out of the United States.
  • The guilty plea is established; sentencing remains pending.