Geoffrey K. Auyeung, a 47-year-old resident of Newcastle, Washington, pleaded guilty on February 20, 2026, in the U.S. District Court for the Western District of Washington to participating in a money laundering conspiracy. Auyeung established nine shell companies to defraud victims under the guise of oil and gas investment opportunities, funneling approximately $97.1 million in fraud proceeds into 81 bank accounts and 19 cryptocurrency accounts under his control, before rapidly transferring the funds to accounts controlled by co-conspirators in Russia and Nigeria. Investigations revealed that Auyeung personally profited by at least $4.07 million. Under the plea agreement, he will pay $24.7 million in restitution and forfeit approximately $10.1 million in assets. Prosecutors have recommended a sentence of 63 months in prison, with final sentencing scheduled for May 12, 2026.
Washington man pleads guilty to laundering $97.1 million from investment fraud
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Summary
On February 20, 2026, a man from Washington pleaded guilty to a money laundering conspiracy related to a $97.1 million investment fraud. Geoffrey K. Auyeung, 47, of Newcastle, used nine shell companies to divert funds into 81 bank accounts and 19 cryptocurrency accounts, transferring the money to co-conspirators in Russia and Nigeria. The case underscores deficiencies in AML and CFT controls. Auyeung will pay $24.7 million in restitution and forfeit $10.1 million in assets. Prosecutors are seeking a 63-month prison sentence, with sentencing scheduled for May 12, 2026.
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