Alison J. Ramsdell U.S. Attorney | U.S. Attorney for the District of South Dakota
United States Attorney Alison J. Ramsdell announced the sentencing of Evan Frederick Light, a 22-year-old from Lebanon, Indiana. U.S. Chief Judge Roberto A. Lange sentenced Light to 20 years in federal prison for his involvement in conspiracies related to cyber intrusion and a $37 million cryptocurrency theft.
Light's sentence includes three years of supervised release and a $200 special assessment to the Federal Victims Fund. He is also expected to pay restitution amounting to no less than $37 million, with a hearing set for a later date to determine the exact amount.
In May 2023, Light was indicted by a federal grand jury on charges of Conspiracy to Commit Wire Fraud and Conspiracy to Launder Monetary Instruments. He entered a guilty plea on September 30, 2024.
U.S. Attorney Ramsdell stated, “From his mother’s basement in Indiana, Evan Light set out to steal millions of dollars in cryptocurrency, thereby destroying the retirement savings of hardworking, honest Americans.” She emphasized that the sentence reflects the crime's severity and its impact on victims while praising the FBI's role in recovering much of the stolen cryptocurrency.
Special Agent Alvin M. Winston Sr. from FBI Minneapolis remarked on the broader implications of cybercrime: “Cybercrime is not a victimless offense — its impact is felt by hardworking Americans who suffer financial and emotional harm.”
Court documents revealed that Light's activities began in February 2022 when he infiltrated an investment holdings company in Sioux Falls, South Dakota. During this cyber-intrusion, he accessed personal identifiable information (PII) and stole over $37 million worth of cryptocurrency from nearly 600 victims with help from unidentified accomplices.
The stolen funds were distributed globally through mixing services and gambling websites to conceal Light’s identity. His actions affected victims worldwide, including those in South Dakota.
The investigation was carried out by the FBI, with Assistant U.S. Attorney Jeremy R. Jehangiri prosecuting the case. Following his sentencing, Light was placed under the custody of the U.S. Marshals Service.
