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Texas Drug Ring Indicted for Laundering $50K in Cryptocurrency and Distributing Meth

Madonna by Madonna
10/10/2024
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Six men, collectively known as “Loverbois,” have been convicted for laundering between $15,000 and $50,000 in cryptocurrency while selling nearly 12 kilograms of methamphetamine disguised as Adderall pills.

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The U.S. Attorney’s Office for the Southern District of Ohio announced the sentences on October 8, revealing the group’s involvement in a dark web operation focused on illegal drug distribution and money laundering through cryptocurrency.

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Court documents indicate that from July 2019 to December 2020, the defendants sold approximately 11.98 kilograms of meth pills and laundered substantial amounts of cryptocurrency on a monthly basis. Operating under the alias “Loverbois” and various other usernames, the group executed around 20 orders daily.

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Hung Ahn Huy Phung, 26, who is believed to be the mastermind behind the operation, received the longest sentence of 84 months in prison. His four accomplices were sentenced to terms ranging from 60 to 75 months, while one individual received five years of probation.

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Phung was instrumental in the operation, managing the Loverbois account, processing online orders, and sourcing pills from two accomplices. The group sold meth manufactured to resemble legitimate Adderall through the dark web, distributing it nationwide via the United States Postal Service. One member specifically handled the packaging of pills for shipment and facilitated the laundering of cryptocurrency.

The Loverbois drug trafficking organization was eventually uncovered when members inadvertently shipped pills to undercover law enforcement officers in the Southern District of Ohio. A federal grand jury formally indicted the defendants in June 2021, with the final defendant, Kevin Tran, receiving his sentence on September 30.

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Madonna, the esteemed author of our blockchain website, is a recognized authority in the field. With a wealth of experience and expertise, she brings a profound understanding of blockchain technology. Her professional insights and commitment to excellence make her a trusted source for navigating the complexities of the blockchain industry.

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