The founder of a Chicago cryptocurrency company that had crypto ATMs throughout the U.S. has been charged for his role in an alleged $10 million money laundering scheme.
CEO Firas Isa, 36, and Virtual Assets LLC, which did business as Crypto Dispensers, were charged on Tuesday with money laundering conspiracy, according to the U.S. Attorney’s Office for the Northern District of Illinois. Isa faces up to 20 years in prison.
Isa’s company allowed customers to deposit dollars into an account to then convert it to crypto. Prosecutors alleged that criminals and victims sent $10 million in earnings from narcotic and wire fraud offenses to Crypto Dispensers, Isa, or someone else involved in the scheme, prosecutors alleged.
After the proceeds were sent, Isa allegedly had the funds converted to crypto and sent to virtual wallets to hide who owned the funds.
“The indictment alleges that Isa knew the money was derived from fraud,” prosecutors said.
Isa and his company pleaded not guilty, according to the statement. Crypto Dispensers did not immediately respond to a request for comment from The Block.
On the Crypto Dispensers website, Isa regularly wrote blogs in October titled “Here’s how to withdraw Bitcoin from an ATM” and “An Outline of Bitcoin ATM Rules by Country.”
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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