Former FBI agent pleads guilty to stealing approximately $2.47 million in cryptocurrency, faces up to 20 years in prison.

November 6 - The U.S. Department of Justice stated that former FBI agent Patrick Steven Yaroch has pleaded guilty to wire fraud and money laundering charges, involving the theft of approximately $2.47 million in cryptocurrency using wallet credentials collected by the FBI during investigations. Yaroch, 37, faces a maximum of 20 years in prison, with sentencing scheduled for March 4, 2027.

Prosecutors allege that Yaroch began committing the offenses no later than December 2024, using wallet credentials tied to 35 FBI investigations to execute approximately 100 fraudulent transfers. The stolen wallets included those belonging to investigation targets, wallets controlled by nation-state actors, and at least one wallet created by the FBI for operational purposes. He subsequently exchanged currencies and made multiple transfers to conceal the source of funds, with some of the money used to repay credit cards, auto loans, and other debts.

Yaroch also consulted ChatGPT regarding investments and relocating to the European Union, and after receiving advice to purchase a vineyard in Portugal, engaged local lawyers to obtain a tax identification number. He voluntarily reported his conduct to the FBI in July. The factual statement in the plea agreement indicates that his actions compromised multiple investigations targeting criminal organizations and adversarial nations, as well as sources and methods of foreign intelligence collection.