A Lake Oswego man was sentenced to federal prison for trafficking cocaine and laundering money through a business account to purchase cryptocurrency.
Michael Wayne Frost, 47, received a sentence of 72 months in federal prison and five years of supervised release. The court also ordered the forfeiture of assets worth over $500,000 related to his money laundering activities, including both cryptocurrency and cash.
According to court documents, law enforcement conducted several controlled purchases of cocaine from Frost. On July 2, 2024, authorities executed a federal search warrant at his Lake Oswego residence, where they found one kilogram of cocaine and about $20,000 in cash. Additional warrants led agents to seize more than $509,000 in cash and cryptocurrency connected to the drug sales. Investigators determined that Frost deposited some proceeds into a business bank account he controlled before transferring funds to Robinhood for cryptocurrency investments as part of his laundering scheme.
On August 21, 2024, a federal grand jury in Portland indicted Frost on seven counts related to distributing cocaine and money laundering. He pleaded guilty on September 24, 2025, to possession with intent to distribute cocaine and two counts of money laundering.
The case was investigated by the Federal Bureau of Investigation, Multnomah County Sheriff’s Office, Gresham Police Department, Homeland Security Investigations, and the Asset Recovery and Money Laundering Unit at the United States Attorney’s Office. It was prosecuted by Assistant U.S. Attorneys Kemp Strickland and Christopher Cardani for the District of Oregon.
Scott Bradford has served as U.S. Attorney for the District of Oregon after previously holding roles such as Chief of the White Collar Unit and Acting Chief of the Counterintelligence and Export Control Section (https://www.justice.gov/usao-or/staff-profile/meet-united-states-attorney). The office engages in community outreach efforts throughout Oregon (https://www.justice.gov/usao-or/programs) and maintains locations in Portland, Eugene, and Medford (https://www.justice.gov/usao-or). It is one of 93 offices nationwide under the U.S. Department of Justice (https://www.justice.gov/usao-or), employing 107 staff members (https://www.justice.gov/usao-or). The office seeks justice by representing the United States in civil and criminal matters while fostering trust in the federal judicial system (https://www.justice.gov/usao-or/about-district-oregon).
