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!

Error: Please check your email address.
Rocket to Success - Your 10 Tips for Smarter ERP System Selection

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

SanDisk MicroSDXC™ for Nintendo® Switch™

Learn more >

Breitling Superocean Heritage Chronographe 44

Learn more >

Toys for Boys

Family Friendly

Panasonic 4K UHD Blu-Ray Player and Full HD Recorder with Netflix - UBT1GL-K

Learn more >

Stocking Stuffer

Razer DeathAdder Expert Ergonomic Gaming Mouse

Learn more >

Christmas Gift Guide

Click for more ›

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Edwina Hargreaves

WD My Cloud Home

I would recommend this device for families and small businesses who want one safe place to store all their important digital content and a way to easily share it with friends, family, business partners, or customers.

Walid Mikhael

Brother QL-820NWB Professional Label Printer

It’s easy to set up, it’s compact and quiet when printing and to top if off, the print quality is excellent. This is hands down the best printer I’ve used for printing labels.

Ben Ramsden

Sharp PN-40TC1 Huddle Board

Brainstorming, innovation, problem solving, and negotiation have all become much more productive and valuable if people can easily collaborate in real time with minimal friction.

Sarah Ieroianni

Brother QL-820NWB Professional Label Printer

The print quality also does not disappoint, it’s clear, bold, doesn’t smudge and the text is perfectly sized.

Ratchada Dunn

Sharp PN-40TC1 Huddle Board

The Huddle Board’s built in program; Sharp Touch Viewing software allows us to easily manipulate and edit our documents (jpegs and PDFs) all at the same time on the dashboard.

George Khoury

Sharp PN-40TC1 Huddle Board

The biggest perks for me would be that it comes with easy to use and comprehensive programs that make the collaboration process a whole lot more intuitive and organic

Featured Content

Product Launch Showcase

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?