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SINGAPORE – Nearly $ 4 million (S $ 5.3 million) in illicit funds linked to a group that provided encrypted telecommunications devices and network services used by transnational organized criminal syndicates were seized in Singapore.
The Singapore Police Department of Commercial Affairs (CAD) and U.S. authorities seized a total of $ 3,971,468.40 from four bank accounts here, the U.S. Department of Justice (DOJ) said on Monday (14 from December).
The funds belonged to Phantom Secure, an encrypted telecommunications network used by transnational organized criminal syndicates.
The amount has been repatriated to the United States, according to announcements by the Attorney General for the Southern District of California.
The seizure of the funds follows the indictment of Vincent Ramos, the CEO of Canada-based Phantom Secure, and four of his associates, by a US federal grand jury in March 2018.
The five were accused of operating a criminal enterprise that facilitated the transnational importation and distribution of narcotics through the sale and service of encrypted telecommunications devices and services to drug traffickers.
According to court documents, Phantom Secure had announced that its “uncrackable” phones were immune to decryption, wiretapping, or third party legal record requests. It also provided a service to ensure the destruction of the evidence contained in the device if it was ever compromised by an informant, or if it was acquired by the police.
In 2018, Ramos pleaded guilty to running a criminal enterprise that had facilitated the transnational import and distribution of narcotics, including cocaine, heroin, and methamphetamine, to the United States through the sale of these encrypted devices.
Ramos was sentenced to 108 months in prison and the Phantom Secure network was shut down.
As part of his guilty plea, Ramos agreed to a $ 80 million money forfeiture judgment. It also agreed to give up tens of millions of dollars in identified assets in bank accounts around the world, as well as houses, a Lamborghini, cryptocurrency accounts and gold coins.
The money repatriated from Singapore was among the assets identified by investigators as seized.
The US Department of Justice said that Ramos’ customers were using their products to devastating and sometimes deadly effects. For example, a news article on March 5, 2014 reported that investigations into a gang murder were hampered because the suspects used Phantom Secure devices to coordinate the murder.
Ramos had used this news to market his encryption services to criminals around the world, writing: “This is the best verification of what we have been saying all along – proven and effective for now for nine years. It is the highest level of authority confirming our effectiveness. It can’t get better than that. “
The justice department said it had worked closely with CAD in Singapore since 2018 to identify and seize the amount linked to the sale of Phantom Secure devices.
The Justice Department praised the efforts of its Singaporean counterparts to identify, freeze and repatriate the proceeds of Ramos’ criminal enterprise.
The US Federal Bureau of Investigation said taking down transnational criminal organizations like Phantom Secure and recouping their illegal financial gains was only possible through their close working relationships with global law enforcement partners.
“The repatriation of nearly $ 4 million by our partners in Singapore ensures that Vincent Ramos and the leaders of Phantom Secure will pay for their crimes,” said Special Agent in Charge Suzanne Turner of the US FBI.
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