Oleg Korniev, a 42-year-old dual citizen of Ukraine and Russia, pleaded guilty in U.S. federal court on Thursday to charges related to his leadership of an international money laundering operation known as Your Mule Cashout (YMCO). The organization, active from 2007 to 2014, utilized a network of over 15,000 unwitting money mules across the United States, Germany, Italy, the United Kingdom, and Australia.
YMCO is confirmed to have laundered at least $10 million for cybercriminals who compromised approximately 750 U.S. bank accounts using malware. The funds were primarily transferred to Eastern Europe via services like Western Union and MoneyGram. There, "Cash-out Contractors" received the money and, for a percentage, returned it to YMCO.
The recruitment of money mules involved deceptive practices. YMCO established fake company websites advertising job opportunities. Applicants underwent what appeared to be a legitimate hiring process, including an employment test, contract review, and company policy review. They were instructed to upload their bank details to a fictitious company website and were told their role was to receive funds into their accounts before transferring them to legitimate company accounts overseas.
Korniev was arrested in North Carolina last December, nearly nine years after a grand jury indictment. He faces a minimum prison sentence of two years and a maximum of 50 years. His guilty plea covers charges of money laundering, conspiracy to commit computer fraud, conspiracy to commit access device theft, and aggravated identity theft.
The indictment also named Serghei Ivanovich Tomuz, a Moldovan national, who allegedly managed the cash-out team in Moldova and laundered money for YMCO. Tomuz's case in U.S. federal court was terminated in May of this year. He was reportedly arrested at a Romanian border crossing in May 2022 and subsequently fought extradition to the U.S.
Prior to Korniev's plea, four Ukrainian individuals connected to YMCO had already pleaded guilty to conspiracy to commit money laundering. They were sentenced in 2018 to prison terms ranging from 37 months to 63 months.
