{KXLG – South Dakota} Evan Frederick Light, 22, of Lebanon, Indiana, was sentenced to 20 years in federal prison on February 6, 2025, for conspiracy to commit wire fraud and conspiracy to launder monetary instruments. U.S. Chief Judge Roberto A. Lange handed down the sentence.
Light was also ordered to pay a $200 special assessment and will be required to pay restitution of at least $37 million. A hearing to determine the final restitution amount will be scheduled at a later date. Following his prison term, he will also serve three years of supervised release.
Light pleaded guilty in September 2024 to charges stemming from a May 2023 indictment. According to court documents, in February 2022, Light participated in a cyber-intrusion targeting a Sioux Falls, South Dakota, investment holdings company. He and other unidentified individuals stole customers’ personal identifiable information (PII) and subsequently stole over $37 million in cryptocurrency from nearly 600 victims.
Using the stolen PII, Light gained access to the company’s computer servers and then exfiltrated the PII of hundreds of other clients. This access enabled him to steal virtual currencies from clients holding assets with the company. The stolen cryptocurrency was then routed through various locations worldwide, including mixing services and gambling websites, in an attempt to conceal Light’s identity and the stolen funds.
“From his mother’s basement in Indiana, Evan Light set out to steal millions of dollars in cryptocurrency, thereby destroying the retirement savings of hardworking, honest Americans,” said U.S. Attorney Alison J. Ramsdell. “His 20-year sentence demonstrates the severity of his crime and its impact on the hundreds of victims whose lives have been devastated by his fraudulent activity.”
FBI Minneapolis Special Agent in Charge Alvin M. Winston Sr. added, “Cybercrime is not a victimless offense — its impact is felt by hardworking Americans who suffer financial and emotional harm. Today’s sentencing makes clear that cybercriminals who believe they can operate from the shadows without consequence are mistaken.”
The FBI conducted the investigation, and Assistant U.S. Attorney Jeremy R. Jehangiri prosecuted the case. Light was remanded to the custody of the U.S. Marshals Service.
