)
or https:// means you've safely connected to the .gov website. Share sensitive information only on official, secure websites.
Date: Nov. 18, 2025
Contact: newsroom@ci.irs.gov
CHICAGO — The founder of a Chicago cryptocurrency company has been indicted in an alleged $10 million money laundering conspiracy.
Firas Isa founded Chicago-based Virtual Assets LLC, which did business as Crypto Dispensers, and served as its Chief Executive Officer. The company operated a cash-to-cryptocurrency exchange business, which included cryptocurrency ATMs at various locations throughout the United States, allowing individuals to convert cash, checks, or other monetary instruments into cryptocurrency. An indictment unsealed in the Northern District of Illinois alleges that criminals and, in some instances, fraud victims, sent at least $10 million in proceeds from wire fraud and narcotics offenses to Crypto Dispensers, Isa, or a co-conspirator. After the proceeds were sent, Isa converted or caused to be converted the cryptocurrency and thereafter transferred the cryptocurrency to virtual wallets to disguise the true source and ownership of the proceeds. The indictment alleges that Isa knew the money was derived from fraud.
Isa of Frankfort, Ill., and Virtual Assets LLC are each charged with one count of money laundering conspiracy. The charge is punishable by a maximum sentence of 20 years in federal prison.
Isa and his company have pleaded not guilty to the charges. A status hearing in federal court in Chicago is set for Jan. 30, 2026, before U.S. District Judge Elaine E. Bucklo.
The indictment was announced by Andrew S. Boutros, United States Attorney for the Northern District of Illinois, Adam Jobes, Special Agent-in-Charge of IRS Criminal Investigation in Chicago, including the IRS Chicago Cyber Crime Unit, 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 Chicago Field Office of the FBI, and Ruth Mendonça, Inspector-in-Charge of the Chicago Division of the U.S. Postal Inspection Service. The government is represented by Assistant U.S. Attorneys Bradley Tucker and Ramon Villalpando.
IRS Criminal Investigation (IRS-CI) is the law enforcement arm of the IRS, responsible for conducting financial crime investigations, including tax fraud, narcotics trafficking, money laundering, public corruption, healthcare fraud, identity theft and more. IRS-CI special agents are the only federal law enforcement agents with investigative jurisdiction over violations of the Internal Revenue Code, obtaining a 90% federal conviction rate. The agency has 19 field offices located across the U.S. and 14 attaché posts abroad.