The founder of a Chicago cryptocurrency company has been indicted for his alleged role in a $10 million money laundering scheme. FIRAS ISA, who started and led Virtual Assets LLC, also known as Crypto Dispensers, is accused along with the company of participating in a conspiracy to launder money.
According to an indictment unsealed in the Northern District of Illinois, Crypto Dispensers operated cash-to-cryptocurrency exchanges, including ATMs across the United States. The indictment claims that at least $10 million from wire fraud and narcotics crimes was sent to Crypto Dispensers, Isa, or a co-conspirator. These funds were then converted into cryptocurrency and transferred to virtual wallets in an effort to hide their origin and ownership. Prosecutors allege that Isa was aware the funds came from fraudulent activities.
Isa, 36, of Frankfort, Illinois, and Virtual Assets LLC each face one count of money laundering conspiracy. If convicted, they could receive up to 20 years in federal prison.
Both Isa and his company have pleaded not guilty. A status hearing is scheduled for January 30, 2026 before U.S. District Judge Elaine E. Bucklo.
The announcement was made by Andrew S. Boutros, U.S. Attorney for the Northern District of Illinois; Matthew J. Scarpino of Homeland Security Investigations in Chicago; Douglas S. DePodesta of the FBI’s Chicago Field Office; Adam Jobes of IRS Criminal Investigation in Chicago (including the IRS Chicago Cyber Crime Unit); and Ruth Mendonça from the U.S. Postal Inspection Service’s Chicago Division. Assistant U.S. Attorneys Bradley Tucker and Ramon Villalpando are representing the government.
“The public is reminded that an indictment is not evidence of guilt. The defendant is presumed innocent and entitled to a fair trial at which the government has the burden of proving guilt beyond a reasonable doubt.”
