COVERING THEIR TRACKS
According to court documents, the gang’s members and associates covered their tracks by placing their homes and cars under the names of straw owners or shell companies.
Straw owners, or signers, are people who agree to hold the title of another’s car or home for a fee.
In one case, Lam is said to have requested to tour a home before paying the full US$3 million.
According to court documents, he was told it was not a good idea because the realtor had placed the home under the name of a 55-year-old living at the residence with his family, in an effort to conceal Lam’s payment and ownership of the home.
In another message between two members, in which one explained how he disguises and conceals the true owners of exotic car purchases, he said: “Our goal is to cover our tracks in a way that if anything comes back ever, we are covered and have no stress.”
The court was also told how a “squishmallow” stuffed toy filled with US$50,000 in cash was shipped between members.
The group communicated on Telegram and Signal, regularly updating their accounts for security.
Its members also received information from off-duty law enforcement officers. In September 2024, one such officer informed a money exchanger that federal law agencies were investigating members of the crime ring.
The same month, Lam allegedly “obtained information” about the investigation from an off-duty law enforcement officer, and that authorities were on their way to arrest him.
This prompted him to go to the rear of his Miami rental home, where he dropped his mobile phone off the boat dock and into Biscayne Bay to destroy incriminating evidence, court documents stated.
HOW DID THEY SPEND THE MONEY?
The members of the crime ring lived the high life – renting luxury homes in Los Angeles, the Hamptons and Miami, as well as using private jets and hiring a team of private security guards.
They racked up nightclub bills of more than US$500,000 a night, bought branded handbags to give away at parties, and wore luxury clothes and watches.
The group also bought guns to protect themselves from rival cybercrime gangs.
At least 28 cars are set to be forfeited in the case – worth between US$100,000 and US$3.8 million. They include seven Lamborghinis, four Porsches, three Rolls-Royces and three Ferraris.
More than 90 items are also on the list, including several Louis Vuitton pillows and multiple pairs of luxury shoes.
Even behind bars, Lam was still in contact with other members of the crime ring, court documents stated. He gave instructions to these members to buy multiple Hermes Birkin purses and deliver them to his girlfriend in Miami.
According to the indictment, one member used the stolen funds to “fund Lam’s defence team”.