The founder of a Chicago-based cryptocurrency company has been indicted on charges related to an alleged $10 million money laundering conspiracy.
Firas Isa, who established Virtual Assets LLC—operating as Crypto Dispensers—and served as its Chief Executive Officer, is accused of running a cash-to-cryptocurrency exchange business. This included managing cryptocurrency ATMs across the United States that allowed users to convert cash, checks, or other monetary instruments into cryptocurrency. According to an indictment unsealed in the Northern District of Illinois, criminals and some fraud victims sent at least $10 million from wire fraud and narcotics offenses to Crypto Dispensers, Isa, or a co-conspirator. The indictment alleges that after receiving these proceeds, Isa converted them into cryptocurrency and transferred the funds to virtual wallets to conceal their true source and ownership. It further claims Isa knew the money was obtained through fraudulent means.
Isa, 36, from Frankfort, Illinois, along with Virtual Assets LLC, faces one count of money laundering conspiracy. If convicted, the charge carries a maximum sentence of 20 years in federal prison.
Both Isa and his company have pleaded not guilty. A status hearing is scheduled for January 30, 2026 in federal court in Chicago before U.S. District Judge Elaine E. Bucklo.
The announcement was made by Andrew S. Boutros, United States Attorney for the Northern District of Illinois; Matthew J. Scarpino, Special Agent-in-Charge of U.S. Immigration and Customs Enforcement’s Homeland Security Investigations in Chicago; Douglas S. DePodesta, Special Agent-in-Charge of the FBI’s Chicago Field Office; Adam Jobes, Special Agent-in-Charge of IRS Criminal Investigation in Chicago (including its Cyber Crime Unit); and Ruth Mendonça, Inspector-in-Charge for the U.S. Postal Inspection Service’s Chicago Division. Assistant U.S. Attorneys Bradley Tucker and Ramon Villalpando are representing the government.
“The public is reminded that an indictment is not evidence of guilt,” according to officials involved in the case. “The defendant is presumed innocent and entitled to a fair trial at which the government has the burden of proving guilt beyond a reasonable doubt.”
