Description: Houston, Texas criminal defense lawyer represented the Defendant charged with aggravated identity theft in connection with a scheme to fraudulently obtain and launder more than $500,000.

Xiaofei Chen admitted he arranged a fraudulent wire of $520,000 from the victims checking account. Chen opened a Bitstamp cryptocurrency exchange account using the victim’s name and driver’s license without the consent or knowledge of the victim.

Chen used the Bitstamp account and other cryptocurrency accounts to convert the proceeds into Bitcoin and laundered the Bitcoin through numerous transactions.

U.S. District Judge Alfred H. Bennett accepted the plea and has set sentencing for Jan. 18, 2024. At that time, Chen faces a mandatory of two years in prison.

Chen was permitted to remain on bond pending that hearing.

FBI conducted the investigation. Assistant U.S. Attorneys Christian Latham and Belinda Beek are prosecuting the case.

WIRE FRAUD
(1-3)
CONCEALMENT MONEY LAUNDERING
(4-6)
TRANSACTIONS IN PROCEEDS OF SPECIFIED UNLAWFUL ACTIVITY
(7-8)
AGGRAVATED INDENTITY FRAUD
(9)
AGGRAVATED INDENTITY FRAUD
(10)

Outcome:
Defendant elected to plead guilty.

Plaintiff's Experts:

Defendant's Experts:

Comments: