NEWPORT BEACH, CA — A Newport Beach man was sentenced to more than five years in prison after federal prosecutors said he laundered at least $3.5 million as part of a multi-state criminal enterprise, the Department of Justice said.
22-year-old Evan Tangeman was sentenced in Washington, D.C. on Friday to five years and 10 months in prison after he pleaded guilty in December to taking part in a Racketeer Influenced and Corrupt Organizations — or RICO — conspiracy where participants stole more than $263 million in cryptocurrency and used money to pay for lavish lifestyles, according to the U.S. Department of Justice.
The Newport Beach man was the ninth person to plead guilty in connection with the scheme, prosecutors said.
According to prosecutors, the scheme began around Oct. 2023 and lasted through May 2025.
The enterprise, according to prosecutors, grew from friendships created through online gaming platforms and included co-conspirators from California, New York, Florida, Connecticut and abroad.
According to the Department of Justice, members of the group included database hackers, organizers, target identifiers, callers and residential burglars who targeted hardware virtual currency wallets, which store cryptocurrency.
Tangeman laundered money for the group, prosecutors said, and helped his co-conspirators take millions from victims.
Prosecutors said Tangemen, who went by "Tate," "E," and "Evan|Exchanger," also received money and luxury items like exotic cars for his work.
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