A US court has heard that Oleg Korniev, a dual Ukrainian-Russian national aged 42, led Your Mule Cashout (YMCO), a sophisticated international money‑mules network that helped cybercriminals move stolen funds abroad. Court documents describe YMCO as an online infrastructure in which cybercriminals recruited thousands of US residents to act as money mules, enabling transfers from US bank accounts to overseas accounts, primarily in Eastern Europe.
Prosecutors say YMCO’s scheme concealed the theft of funds from US companies and launders the proceeds through a network of conspirators. Korniev and others allegedly created policies and procedures, hired and managed staff, and rewarded or disciplined personnel based on performance. He is said to have secured illicit services that supported YMCO’s operations.
In total, Korniev admitted to causing over $14.7 million in actual and intended losses and laundering at least $7 million on behalf of cybercriminals, with restitution pledged to known victims and forfeiture of cash seized in Georgia. He faces a potential sentence of 2 to 50 years in prison after pleading guilty to money laundering, computer fraud, access device theft, and aggravated identity theft.
Four other YMCO members were previously arrested abroad, extradited to the US, and pleaded guilty, receiving prison terms from 37 to 63 months and ordered to pay more than $9.1 million in restitution each. The case highlights the extent of online money‑laundering networks and the role of mules in converting stolen funds into overseas transfers.