A young man accused of cryptocurrency fraud enjoyed an “extremely lavish” lifestyle, using stolen funds to indulge in sports cars, luxury residences, and private jets.
Evan Tangeman, 22, from Newport Beach, received a 70-month prison sentence for his role in a “multi-state criminal enterprise” that laundered over $263 million in digital currency.
He pled guilty previously to laundering at least $3.5 million for the group, which was linked to an online gaming platform targeting people across the United States.
The Justice Department stated that Tangeman and his accomplices allegedly stole funds with assistance from “database hackers, organizers, target identifiers, callers, and residential burglaries aimed at hardware cryptocurrency wallets.”
With the misappropriated money, they funded “nightclub services,” acquired exotic cars like a black 2022 Rolls Royce Ghost—seized from Tangeman’s home—and rented private jets and various high-end properties in locations like Los Angeles, Miami, and the Hamptons.
Tangeman also had access to luxury vehicles, including a Rolls-Royce and a special Lamborghini Urus for services.
Officials from the Justice Department remarked that the greed displayed was almost “cartoonish.”
“This criminal organization was fueled by greed and exhibited a ridiculously bold attitude. They took millions and spent it on lavish expenses like nightclub tabs worth $500,000, luxury cars, and Rolex watches,” commented U.S. Attorney Jeanine Pirro in Washington, D.C.
She noted that Tangeman didn’t just launder the money for his indulgences. After the arrest of his co-conspirators, he attempted to destroy evidence, which indicated his guilt, and both the prosecuting team and the courts addressed that seriously.
Most members of this criminal organization were unemployed and younger than 20.
Numerous law enforcement agencies investigated the case, including the U.S. Attorney’s Office for the District of Columbia, the FBI Washington Field Office, and the IRS Criminal Investigation Washington, DC Field Office.
U.S. District Judge Colleen Koller Kotelly ordered Tangeman to serve the 70-month sentence, followed by three years of supervised release.
