Crypto-mixer sentenced to 5 years for laundering $97M from oil-and-gas investment scam
Geoffrey K. Auyeung, 47, from Seattle, was sentenced to five years in prison for conspiracy to commit money laundering related to a crypto fraud scheme that defrauded victims of nearly $100 million. From 2022 to 2024, Auyeung received $97.1 million from victims who believed they were investing in oil and gas. He converted fiat to Bitcoin, Ethereum, and stablecoins, then forwarded funds to co-conspirators' bank accounts or crypto addresses. Despite arrest in 2024 and pleading guilty in February, Auyeung continued communicating with co-conspirators secretly for 16 months, using his wife's accounts to receive illicit fees. The funds were routed through Gemini, Bitstamp, Coinbase, and ultimately Binance. Auyeung forfeits over $2.3 million seized from bank accounts, $7.1 million from crypto wallets, and a car. He earned at least $4 million in commissions.
Key facts
- Auyeung sentenced to 5 years for laundering $97M from oil-and-gas investment scam.
- Victims transferred funds believing they were investing in oil and gas industry.
- Funds converted to Bitcoin, Ethereum, or stablecoins and sent to co-conspirators.
- Auyeung continued laundering after arrest, using wife's bank accounts.
- He forfeits $9.4M in assets including crypto wallets and a car.