Overview
- Judge John C. Coughenour sentenced Geoffrey K. Auyeung to five years in federal prison on Tuesday, June 9, 2026, after Auyeung pleaded guilty to conspiracy to commit money laundering.
- Federal filings say about $97.1 million in investor deposits flowed through accounts Auyeung controlled between mid‑2022 and mid‑2024 and prosecutors call those funds fraud proceeds.
- Prosecutors say Auyeung used at least nine shell entities, 81 bank accounts at 24 banks and 19 accounts on eight crypto exchanges to move money before buying Bitcoin, Ethereum, USDT and USDC.
- Auyeung agreed to forfeit roughly $2.3 million seized from bank accounts, about $7.1 million in crypto wallets and an Audi SQ8, while a magistrate will calculate victim restitution.
- Homeland Security Investigations and IRS Criminal Investigation led the probe and officials say the case shows how quick fiat‑to‑crypto conversions and offshore exchange transfers are used to obscure fraud proceeds and complicate recovery for victims.