PANews reported on November 19 that, according to a statement from the U.S. Department of Justice, a California man named Kunal Mehta pleaded guilty to participating in a cryptocurrency fraud ring and violating the RICO Act by helping to launder at least $25 million. The group used social engineering to steal $263 million (now estimated at $385 million) worth of crypto assets across the United States, squandering the money on luxury cars, nightclubs, watches, bags, and private jets. Mehta used shell companies to purchase and hold Lamborghinis, Rolls-Royces, and other luxury cars on behalf of the group to conceal his true identity as a minor accomplice.PANews reported on November 19 that, according to a statement from the U.S. Department of Justice, a California man named Kunal Mehta pleaded guilty to participating in a cryptocurrency fraud ring and violating the RICO Act by helping to launder at least $25 million. The group used social engineering to steal $263 million (now estimated at $385 million) worth of crypto assets across the United States, squandering the money on luxury cars, nightclubs, watches, bags, and private jets. Mehta used shell companies to purchase and hold Lamborghinis, Rolls-Royces, and other luxury cars on behalf of the group to conceal his true identity as a minor accomplice.