Evan Light, a 20-year-old from Lebanon, is facing decades in prison after pleading guilty to his involvement in a massive cryptocurrency scam that defrauded nearly 600 victims of $37 million. According to the Lebanon Reporter, federal prosecutors revealed that Light was part of a group that infiltrated the computer servers of an investment holding company.
In May 2023, the FBI executed a search warrant at Light’s home, where he resided with his mother. As part of his plea agreement, Light admitted to stealing personally identifiable information from a client of the investment holding company. He then utilized that stolen identity to gain unauthorized access to the company’s computer server, compromising the holdings of hundreds of clients.
“I knew then and know now that these proceeds were unlawfully obtained and were subsequently unlawfully laundered to conceal their source, control, ownership, and location,” Light stated in his plea agreement. He acknowledged transferring and wiring the illicitly obtained cryptocurrency proceeds across state and international borders before moving them to a cold wallet under his control.
Light now faces a potential 20-year sentence in federal prison, along with a $250,000 fine for conspiracy to commit wire fraud. Additionally, he faces charges for conspiracy to launder monetary instruments, with court documents indicating that he may be ordered to pay restitution of $37,704,560.
None of Light’s alleged co-conspirators have been named in the plea agreement. As of now, no date has been set for his sentencing.
