A Rhode Island business owner has been sentenced to four years in prison for his role in laundering more than $35 million from internet fraud schemes. Craig Clayton, 75, of Cranston, operated Rochart Consulting, a “virtual CFO” business that federal prosecutors say served as a front for illegal activity between 2019 and 2021.
U.S. District Court Judge Richard G. Stearns handed down the sentence in Boston federal court. Clayton will also serve three years of supervised release and must pay $40,000 in restitution. He pleaded guilty in May 2025 to one count each of money laundering conspiracy and obstruction of justice after being arrested in February 2023.
According to authorities, Clayton created shell companies and opened fraudulent business bank accounts in Rhode Island and Massachusetts to launder funds on behalf of foreign-based clients involved in internet fraud schemes. Prosecutors said he advised clients on how to structure deposits, disguise wire transfers, and fabricate documentation supporting the flow of illicit funds.
In communications with co-conspirators at Rochart Consulting, Clayton acknowledged their involvement as “money mules complicit in [Rochart’s clients’] offenses” and recognized the legal risks they faced. In encrypted messages with another client, he expressed concerns about law enforcement surveillance and discussed gathering compromising information on a victim who had reported the fraud scheme to authorities. He also suggested switching communications from WhatsApp to Signal due to security concerns.
When financial institutions and law enforcement began investigating Rochart Consulting’s activities, Clayton falsely claimed that his shell companies were legitimate businesses. During a recorded conversation with an undercover agent posing as a potential client, he stated that Rochart avoided dealing with anyone connected to law enforcement and admitted some clients were “fugitives from justice.” After learning about a federal grand jury investigation into his conduct, Clayton made several false statements to agents during an interview.
“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, Boston Field Office; and Jennifer De La O, Director of Field Operations, U.S. Customs and Border Protection, Boston Field Office made the announcement today.”
The case was prosecuted by 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. The Internal Revenue Service Criminal Investigation unit and United States Postal Inspection Service provided assistance.
