The founder of a Chicago-based cryptocurrency company has been indicted for allegedly participating in a $10 million money laundering conspiracy.
Firas Isa, who established Virtual Assets LLC—doing business as Crypto Dispensers—and served as its Chief Executive Officer, is accused of operating a cash-to-cryptocurrency exchange that included cryptocurrency ATMs across the United States. According to an indictment unsealed in the Northern District of Illinois, criminals and some fraud victims sent at least $10 million in proceeds from wire fraud and narcotics offenses to Crypto Dispensers, Isa, or an alleged co-conspirator. The indictment claims that after receiving these funds, Isa converted them into cryptocurrency and transferred the assets to virtual wallets to conceal their origin and ownership. Prosecutors allege that Isa was aware the money came from fraudulent activities.
Isa, 36, of Frankfort, Illinois, along with Virtual Assets LLC, faces one count of money laundering conspiracy. If convicted, the charge carries a maximum sentence of 20 years in federal prison.
Both Isa and his company have pleaded not guilty. A status hearing is scheduled for January 30, 2026 before U.S. District Judge Elaine E. Bucklo in Chicago.
The indictment was announced by Andrew S. Boutros, United States Attorney for the Northern District of Illinois; Matthew J. Scarpino, Special Agent-in-Charge of U.S. Immigration and Customs Enforcement’s Homeland Security Investigations in Chicago; Douglas S. DePodesta, Special Agent-in-Charge of the FBI’s Chicago Field Office; Adam Jobes, Special Agent-in-Charge of IRS Criminal Investigation in Chicago (including the IRS Chicago Cyber Crime Unit); and Ruth Mendonça, Inspector-in-Charge of the U.S. Postal Inspection Service’s Chicago Division. Assistant U.S. Attorneys Bradley Tucker and Ramon Villalpando are representing the government.
“The public is reminded that an indictment is not evidence of guilt. The defendant is presumed innocent and entitled to a fair trial at which the government has the burden of proving guilt beyond a reasonable doubt.”
