Man Gets 6 Years for Laundering Money for Cyber-crooks

A 38-year-old man is sentenced to six years in prison for laundering money for cyber-thieves through an online payment system called e-Gold.

A California man was handed a six-year sentence Sept. 17 for laundering money for a crew of cyber-criminals.

Cesar Carranza, 38, also known by the handle "uBuyWeRush," participated in the money laundering scheme "between April 2004 and November 2006," the Department of Justice said in a news release Sept. 16.

According to the indictment, Carranza "received cash deposits from 'carders'"-cyber-criminals who use stolen credit card information-and laundered the money by, among other things, "acting as a money exchanger for an online payment system known as e-Gold."

Three directors of e-Gold had been "convicted of operating an unlicensed money transmitting business," the DOJ said.

"Carranza pleaded guilty on Dec. 3, 2009, to one count of conspiring to launder proceeds of unlawful activity," the release said. All told, Carranza was accused of helping to launder $2.5 million in illegal proceeds.