A 22-year-old resident of Newport Beach, Evan Tangeman, has been handed a substantial 70-month prison sentence for his role in laundering over $263 million in cryptocurrency connected to a multi-state criminal enterprise. The scheme involved a group predominantly made up of unemployed men under the age of 20, who exploited online gaming platforms to execute their fraudulent activities.
Tangeman had previously entered a guilty plea concerning his participation in laundering at least $3.5 million, which was reportedly facilitated through a network of hackers and burglars targeting cryptocurrency wallets. The Justice Department outlined that the criminal organization employed various tactics, including hacking and residential burglary, to siphon funds from unsuspecting victims.
Following the thefts, Tangeman and his accomplices indulged in an extravagant lifestyle funded by the illicit proceeds. This included renting luxurious homes in desirable locations such as Los Angeles, Miami, and The Hamptons, while also engaging in costly nightlife experiences. Notably, a 2022 Rolls Royce Ghost, among other exotic vehicles, was seized from Tangeman’s residence as part of the investigation.
Justice officials have characterized the greed displayed by the enterprise as “brazen,” bordering on the surreal. U.S. Attorney Jeanine Pirro remarked that the lavish spending habits included extravagant nightclub tabs amounting to hundreds of thousands of dollars, alongside high-end purchases like Lamborghinis and luxury watches.
In an effort to evade law enforcement scrutiny when his co-conspirators were apprehended, Tangeman attempted to destroy evidence, a move interpreted by prosecutors as an indication of his awareness of wrongdoing. This behavior was highlighted during his sentencing, underscoring the intention behind his actions.
The case was investigated by a coalition of law enforcement agencies, including the U.S. Attorney’s Office for the District of Columbia, the FBI’s Washington Field Office, and the IRS Criminal Investigation Washington D.C. Field Office. In addition to his prison sentence, Judge Colleen Kollar-Kotelly mandated that Tangeman undertake three years of supervised release upon completing his incarceration.
