News Explorer — TikTok Star Pleads Guilty to Using Bitcoin to Launder COVID-19 Relief Funds

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Jun 1, 10:18 pm

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TikTok Star Pleads Guilty to Using Bitcoin to Launder COVID-19 Relief Funds

Denish Sahadevan, better known as Danny Devan on TikTok, pleaded guilty in federal court on Wednesday to charges of wire fraud, aggravated identity theft, and money laundering involving cryptocurrencies such as Bitcoin. He attempted to defraud lenders and the U.S. government for $1.2 million worth of COVID-19 relief loans, using fake tax forms and bank statements, and borrowing $1.3 million without disclosing the $283,000 debt from his EIDL benefits.

Denish Sahadevan, better known as Danny Devan on TikTok, pleaded guilty in federal court on Wednesday to charges of wire fraud, aggravated identity theft, and money laundering involving cryptocurrencies such as Bitcoin. He attempted to defraud lenders and the U.S. government for $1.2 million worth of COVID-19 relief loans, using fake tax forms and bank statements, and borrowing $1.3 million without disclosing the $283,000 debt from his EIDL benefits.

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