A Russian national, who co-founded a global fraud operation that’s responsible for stealing more than $560 million from millions of victims was sentenced to a decade in jail on Friday, the Department of Justice announced.
Russian citizen Sergey Medvedev, 33, and Syvatoslav Bondarenko, who is from Ukraine, co-founded Infraud, court documents said, according to a Justice Department press release. Infraud, a worldwide criminal organization that engaged in financial fraud and stole identities, bragged about having more than 10,000 participants at its height, according to the press release.
Medvedev, the Russian national, conducted an “escrow” service for illegal transactions in the Infraud network starting in November 2010 until law enforcement shut down the organization in February 2018, court documents said, according to the press release.
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