Audio Transcript

Mr. Schiff: A criminal who switched sides. Special Agent Mike Petronella at the FBI’s New York office says a money launderer in a big fraud case became a source for the FBI.

Mr. Petronella: "He was a money launderer for the group, and he basically saw the light and decided he wanted to help out.”

Mr. Schiff: This helped get one of the hackers involved to admit his guilt, and he’s now in prison. Petronella says the guy on the inside was a big help in evidence being collected in this international scheme.

Mr. Petronella: "We did some interviews. We did some computer checks. The undercover operation was perfect for this. So we actually set up a bunch of undercover meets and surveillances and got the whole thing on video and tape.”

Mr. Schiff: Petronella says the Internet was used to steal more than $300,000 from banks and brokerage firms.

Mr. Petronella: "The guy overseas was basically hacking into the accounts using Trojan Horses and viruses and malware on people’s machines so he could get their log-in credentials.”

Mr. Schiff: One guy, known as a “money mule” or recruiter, pled guilty to money laundering, conspiracy, and credit card fraud. He was sentenced to 37 months in prison and fined $30,000. I’m Neal Schiff of the Bureau, and that’s the FBI’s Closed Case of the Week.”