Couple sentenced for laundering millions in drug proceeds using virtual currency

“This is one of the least sympathetic cases of need I have encountered.”

“All of this was foreseeable. I wish people would think about their families before they commit crimes, rather than invoking their families now.”

“Crime flourishes only when it pays, and Vinh and Diana Phan helped it pay, for years, to the tune of more than $33 million. Now their bill is due. These sentences acknowledge the harm that professional money launderers cause when they knowingly circulate dirty money and subvert the integrity of our banking system.”

“Our special agents reviewed records from more than 20 financial institutions and virtual currency companies, and worked with the task force to execute approximately 40 search warrants and interview dozens of witnesses to unravel the defendants complex scheme to transmit and launder millions in illicit proceeds. When people hear about IRS CI, they often don’t realize the work we do to take down organized crime and criminal financial operations. We are law enforcement officers that specialize in following the money.”