A New Jersey resident pleaded guilty on Mar. 24 in federal court in Boston to operating an unlicensed money transmitting business, according to the United States Attorney’s Office for the District of Massachusetts.
The case involves Shadrach Anapalum, 36, of Newark, who admitted guilt before Senior U.S. District Court Judge Nathaniel M. Gorton. Sentencing is scheduled for June 10, 2026.
Prosecutors said that between May and December 2022, Anapalum received about $375,000 from at least four victims of online scams. He typically kept around ten percent of these funds before transferring the rest to other locations, including bank accounts in China and Turkey. During a recorded call with a cooperating witness, Anapalum acknowledged lying to a bank about his transactions and agreed that his activities were not legitimate.
The charge carries a maximum sentence of five years in prison, three years of supervised release, and a fine up to $250,000 or twice the gross gain or loss. Actual sentences are determined by federal judges based on U.S. Sentencing Guidelines and other legal factors.
United States Attorney Leah B. Foley and Ted E. Docks Special Agent in Charge of the Federal Bureau of Investigation’s Boston Division announced the plea agreement. Assistant U.S. Attorney Kristen Kearney from the Securities, Financial & Cyber Fraud Unit is prosecuting the case.