Former FBI Agent Admits Stealing Approximately $2.47 Million in Cryptocurrency, Faces Up to 20 Years in Prison

The U.S. Department of Justice announced on November 7 that former FBI special agent Patrick Steven Yaroch pleaded guilty on November 5 to charges of wire fraud and money laundering. Yaroch abused his official FBI authority to unlawfully obtain cryptocurrency credentials held by the Bureau in 35 separate investigations, then executed approximately 100 fraudulent transfers totaling $2.4744 million. Court documents reveal that the stolen assets originated from wallets controlled by investigation targets, wallets operated by adversarial nation-state actors, and at least one wallet established by the FBI specifically for law enforcement operations. To conceal the flow of illicit funds, Yaroch conducted multiple cryptocurrency swaps and cross-chain transfers, and used some of the proceeds to repay personal debts. The Department of Justice stated that his criminal conduct severely undermined multiple ongoing investigations and jeopardized associated intelligence sources and investigative techniques. Sentencing is scheduled for March 4, 2027; Yaroch faces up to 20 years in prison.