A 33-year-old Russian man pleaded guilty in Las Vegas on Friday for his role in a global cybercrime ring that allegedly defrauded people around the world of more than $530 million.
Sergey Medvedev, one of the leaders of the Infraud Organization criminal enterprise, pleaded guilty to a crime under the Racketeer Influenced and Corrupt Organizations Act, according to the Department of Justice.
In early 2018, after a Henderson-based investigation, federal authorities announced charges against 36 people from 17 countries accused of being part of the organization, which used the slogan “In Fraud We Trust” and allegedly participated in the dissemination of stolen identities and compromised debit and credit cards, personally identifiable information, financial and banking information, computer malware and other contraband.
The case, dubbed Operation Shadow Web, is being prosecuted in Nevada, after an investigation led to credit card fraud charges against those tied to a syndicate known as “Carder.su,” which authorities said trafficked stolen identities and cost victims more than $50 million. In that case, hundreds of thousands of Americans and several financial institutions were victimized by the Carder.su organization, which had more than 7,800 members worldwide.
Infraud was created in October 2010 and affected more than 9,000 victims, according to the Justice Department.
Medvedev is scheduled to be sentenced in December.