Software security

Leader of 15 000-Mule Laundering Network Pleads Guilty

Ukrainian-Russian Oleg Korniev pleads guilty in US for leading money laundering network YMCO, facing up to 50 years in prison.

By Content Team

Oct 13, 2026

ON THIS PAGE

Oleg Korniev, 42, a dual Ukrainian-Russian citizen, pleaded guilty on October 8 to helping lead Your Mule Cashout (YMCO), a massive money laundering network serving cybercriminals. YMCO recruited over 15 000 Americans as money mules through spam emails from fake companies, putting each one through a hiring process that looked real and telling them they would process payments for legitimate businesses. They were moving stolen funds to Eastern Europe, and they were never paid.

Cybercriminals paid YMCO a cut of whatever it moved. The network laundered at least $10 million from 750-plus US bank accounts, and Korniev ran it like a company: writing the procedures, hiring and firing staff, and rewarding or punishing them on performance.

Korniev admitted YMCO was responsible for over $14.7 million in actual and intended losses to confirmed victims, and that he intended to launder over $9.7 million and did launder at least $7 million. He pleaded guilty to five counts covering money laundering, computer fraud, access device theft, and aggravated identity theft, and faces two to 50 years. Four co-conspirators were extradited to the Western District of North Carolina before him and pleaded guilty, reportedly drawing 37 to 63 months each.

Source: SecurityWeek

Have questions about protecting your software?

Our escrow experts are standing by to help.

Book a free demo

Want more insights like this?