Craig Clayton, a 75-year-old business owner from Cranston, Rhode Island, was sentenced to four years in prison for his role in laundering over $35 million in proceeds from internet fraud schemes. The sentencing took place in federal court in Boston before U.S. District Court Judge Richard G. Stearns. Clayton will also serve three years of supervised release and must pay $40,000 in restitution.
Clayton pleaded guilty in May 2025 to one count of money laundering conspiracy and one count of obstruction of justice. He was arrested and charged by criminal complaint in February 2023.
Between 2019 and 2021, Clayton used his accounting and “virtual CFO” business, Rochart Consulting, as a front to launder funds obtained through internet fraud on behalf of foreign-based clients. Authorities say he established shell companies to open fraudulent business bank accounts in Rhode Island and Massachusetts. Through these accounts, the laundered funds were moved under the guise of legitimate business transactions.
Clayton reportedly advised his clients on how to structure deposits and create false documentation to justify financial transfers. In messages with co-conspirators, he acknowledged their risk as “money mules complicit in [Rochart’s clients’] offenses” that could expose them to charges. He also expressed concern about law enforcement surveillance and suggested using encrypted communication platforms like Signal instead of WhatsApp due to security concerns.
When banks and law enforcement began investigating Rochart Consulting, Clayton misrepresented the nature of his businesses to investigators and bank officials. During a recorded conversation with an undercover agent posing as a potential client, Clayton said Rochart does not “deal with anyone who has law enforcement connections” and noted some clients were “fugitives from justice.” After learning about a federal grand jury investigation into his activities, he attempted to obstruct justice by making false statements during an interview with federal agents.
The announcement was made by United States Attorney Leah B. Foley; Michael J. Krol, Acting Special Agent in Charge of Homeland Security Investigations in New England; Thomas Demeo, Acting Special Agent in Charge of the Internal Revenue Service Criminal Investigation at the Boston Field Office; and Jennifer De La O, Director of Field Operations for U.S. Customs and Border Protection at the Boston Field Office. The Internal Revenue Service Criminal Investigation unit and the United States Postal Inspection Service provided assistance with the case.
Assistant United States Attorneys Ian J. Stearns and Kaitlin R. O’Donnell from the Securities, Financial & Cyber Fraud Unit along with Alexandra Amrhein from the Criminal Division prosecuted the case.
