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The leader of a cybercriminal cartel that had accumulated $ 568 million pleaded guilty

June 28, 2020

On June 26, a Russian citizen pleaded guilty to extortion behind the Infraud Organization, a cybercrime company, for his role as co-founder and administrator of a website on the dark Internet. It was based on the illegal use of credit cards that generated profits in excess of $ 568 million.

After the announcement by the U.S. Department of Justice (DOJ) 33-year-old Sergei Medvedev, also known alias “Stells”, “segmed” and “serjbear”, took responsibility for his role in the organization, which was founded in October 2010 by a Ukrainian citizen, Svyatoslav Bondarenko.

Medvedev pleaded guilty to the judge of the United States District Court James C. Mahan in the Nevada district.

What is RICO?

The leader of a cybercriminal cartel that had accumulated $ 568 million pleaded guiltyThe leader of a cybercriminal cartel that had accumulated $ 568 million pleaded guilty

The Law on Corrupt and Extortionist Organizations (RICO) provides for severe criminal penalties for those who have a “pattern of extortion activity” or “debt collection” and have a specific relationship with a “company” that does international or foreign trade concerns.

The Justice Department charged Infraud organization, These transactions were not only the “primary target” for people who wanted to buy retail items with fake or stolen credit card information, but were also processed through cryptocurrencies

Trustee service to facilitate illegal transactions

The cybercriminals cartel also promoted the sale of malware, banking information and illegal products.

Providing a fiduciary service to facilitate illegal digital monetary transactions between its members, and selection protocols used to ensure that only high quality providers are allowed to advertise for members.

The latest figures from the authorities’ investigation They claim that the Infraud Organization had approximately 10,901 registered members.

During his seven-year tenure The group caused expected losses of approximately $ 2.2 billion and actual losses of more than $ 568 million, The Justice Department said in a variety of financial institutions, merchants and individuals.

Medvedev was arrested in Bangkok, Thailand in 2018 with over 100,000 Bitcoin (BTC)., worth $ 822 million at the time. In the same year, the US authorities accused 36 people of suspected cybercriminal charges.

Another Russian citizen involved in an ongoing cybercrime case in the United States

In an unrelated case A Russian hacker was sentenced to nine years in prison by a U.S. court. On June 26, hacker Aleksei Burkov was accused of running a website called “Cardplanet” that also sold payment card information.

He was previously considered by Russian President Vladimir Putin to be of personal interest.