Dual citizen pleads guilty to running 15,000-mule money laundering network

42-year-old Oleg Korniev pleaded guilty to running Your Mule Cashout (YMCO), a money laundering operation active since September 2007 that used over 15,000 money mules in the US. He faces 2 to 50 years in prison; confirmed losses exceeded $14.7 million.

• YMCO used over 15,000 US money mules since September 2007
• Confirmed losses topped $14.7 million; at least $7 million laundered
• Korniev pleaded guilty to five counts, including money laundering
• He faces a minimum of 2 and a maximum of 50 years in prison