Executive Summary
- Evan Tangeman pleaded guilty to RICO conspiracy charges for laundering funds for a crypto theft gang.
- The “Social Engineering Enterprise” is accused of stealing over $263 million from a single D.C. victim.
- Tactics included digital social engineering, SIM swapping, and physical home invasions.
- Stolen funds were used to rent mansions, buy luxury cars, and fund private jet travel.
- Tangeman is scheduled to be sentenced in federal court on April 24, 2026.
A 22-year-old California resident has pleaded guilty to Racketeer Influenced and Corrupt Organizations (RICO) conspiracy charges for his role in a transnational criminal organization accused of stealing hundreds of millions of dollars in cryptocurrency. According to the Department of Justice, Evan Tangeman admitted to laundering money and securing luxury assets for the “Social Engineering Enterprise,” a gang that utilized cyberattacks and physical home invasions to target victims holding significant digital assets.
Court documents reveal that Tangeman is the ninth individual to enter a guilty plea in connection with the widespread federal investigation. Prosecutors allege the criminal enterprise targeted individuals with large cryptocurrency holdings, employing a mix of sophisticated social engineering tactics and violent coercion. In one high-profile incident cited in the indictment, members of the group allegedly stole more than 4,100 Bitcoin from a victim in Washington, D.C., assets valued at approximately $263 million at the time of the theft.
The Department of Justice states that the group’s operations began around October 2023, led in part by Malone Lam, a Singaporean national operating out of Miami and Los Angeles. Tangeman’s role within the conspiracy involved funneling stolen cryptocurrency through exchanges and mixers to convert it into fiat currency. He also reportedly facilitated the rental of lavish mansions in California and Florida, using fake identities to secure leases where gang members lived and coordinated their attacks.
Investigative filings detail how the group compromised victims by sending fraudulent push notifications and impersonating support staff for cryptocurrency platforms to harvest login credentials. The indictment further alleges that the enterprise escalated to physical surveillance and burglary. In July 2024, members allegedly tracked a victim to New Mexico, installed cameras outside the residence, and subsequently broke in to steal hardware wallets containing hundreds of thousands of dollars in cryptocurrency.
According to prosecutors, the proceeds of these crimes funded an extravagant lifestyle for the co-conspirators, including the purchase of luxury vehicles, designer goods, and private jet travel. The group’s activities continued until May 2025, despite arrests beginning in late 2024. Tangeman, who reportedly monitored the FBI raid on Lam’s Miami home via remote security cameras, is scheduled for sentencing on April 24, 2026.
Federal Prosecution Strategy
The utilization of RICO charges in this case signals a strategic shift by federal prosecutors to treat organized cybercrime rings with the same severity as traditional organized crime syndicates. By applying the RICO statute, authorities can prosecute the entire infrastructure of the “Social Engineering Enterprise,” from the hackers to the money launderers, rather than treating incidents as isolated thefts. This approach allows for stiffer sentencing guidelines and acknowledges the hybrid nature of modern criminal groups that blend digital intrusion with physical threats. It is important to note that while Evan Tangeman has entered a guilty plea, all other individuals named in the superseding indictment who have not been convicted are presumed innocent until proven guilty in a court of law.
