Two sentenced to prison for online money laundering

The Bulgarian residents used eBay to sell expensive and nonexistent vehicles

Two Bulgarians have been sentenced for their roles in an online money-laundering scheme that collected about US$1.2 million from U.S. residents and sent it to a criminal group in Eastern Europe, the U.S. Department of Justice said.

Ivaylo Vasilev Pletnyov and Nikolay Georgiev Minchev used eBay and other Web sites to advertise expensive vehicles and boats they did not own, the DOJ said.

The two defendants and co-conspirators ran the scheme from about July 2005 to May 2006, the DOJ said in a news release.

When victims expressed interest in the vehicles or boats, they were contacted directly by an e-mail from a purported seller, the DOJ said.

The victims were then instructed to wire transfer payments through eBay Secure Traders, an entity with no affiliation to eBay.

EBay Secure Traders was supposedly a escrow account service, but instead, the victims' funds were wired directly into bank accounts in Hungary, Slovakia, the Czech Republic and Greece that were controlled by Pletnyov, Minchev and their co-conspirators.

Pletnyov, 39, of Svishtov, Bulgaria, was sentenced Wednesday in U.S. District Court for the District of Columbia to four years in prison for conspiracy to commit money laundering.

He was also ordered to pay $306,502 in restitution. Pletnyov pleaded guilty on Jan. 15.

Minchev, 45, of Sofia, Bulgaria, was sentenced Wednesday to 30 months in prison for conspiracy to commit wire fraud, and was also ordered to pay $270,444 in restitution. Minchev pleaded guilty on Sept. 21, 2008.

Pletnyov and Minchev were originally charged on Jan. 9, 2008, along with four additional defendants. The DOJ continues to work with foreign counterparts in Romania and Poland regarding the remaining defendants.

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags cybercrimemoneyjailUSA governmentanti-money laundering

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Grant Gross

IDG News Service
Show Comments

Cool Tech

Bang and Olufsen Beosound Stage - Dolby Atmos Soundbar

Learn more >

Toys for Boys

Sony WF-1000XM3 Wireless Noise Cancelling Headphones

Learn more >

Nakamichi Delta 100 3-Way Hi Fi Speaker System

Learn more >

ASUS ROG, ACRONYM partner for Special Edition Zephyrus G14

Learn more >

Family Friendly

Philips Sonicare Diamond Clean 9000 Toothbrush

Learn more >

Mario Kart Live: Home Circuit for Nintendo Switch

Learn more >

Stocking Stuffer

Teac 7 inch Swivel Screen Portable DVD Player

Learn more >

SunnyBunny Snowflakes 20 LED Solar Powered Fairy String

Learn more >

Christmas Gift Guide

Click for more ›

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Tom Pope

Dynabook Portégé X30L-G

Ultimately this laptop has achieved everything I would hope for in a laptop for work, while fitting that into a form factor and weight that is remarkable.

Tom Sellers

MSI P65

This smart laptop was enjoyable to use and great to work on – creating content was super simple.

Lolita Wang

MSI GT76

It really doesn’t get more “gaming laptop” than this.

Jack Jeffries

MSI GS75

As the Maserati or BMW of laptops, it would fit perfectly in the hands of a professional needing firepower under the hood, sophistication and class on the surface, and gaming prowess (sports mode if you will) in between.

Taylor Carr

MSI PS63

The MSI PS63 is an amazing laptop and I would definitely consider buying one in the future.

Christopher Low

Brother RJ-4230B

This small mobile printer is exactly what I need for invoicing and other jobs such as sending fellow tradesman details or step-by-step instructions that I can easily print off from my phone or the Web.

Featured Content

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?