Cranston Businessman Sentenced To 4 Years For Money Laundering Conspiracy

BOSTON, MA — A Cranston businessman was sentenced to four years in federal prison for money laundering conspiracy, the U.S. Attorney's Office said.

Craig Clayton, 75, was sentenced Tuesday in federal court in Boston, the U.S. Attorney's Office said in a media release.

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Clayton was arrested in February 2023 and pleaded guilty to money laundering conspiracy and obstructing justice in May, according to the release.

Clayton was the owner of a “virtual CFO” business, Rochart Consulting, which, along with an accounting business, he and others used "as a front to launder the proceeds of internet fraud schemes" from 2019 to 2021, the release said.

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"As part of the conspiracy, Clayton founded shell companies to open business bank accounts in Rhode Island and Massachusetts, through which he laundered the proceeds of internet fraud schemes on behalf of his foreign-based clients," the release said.

Clayton laundered more than $35 million, according to the release.

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"Clayton also instructed his foreign-based clients on how to structure deposits, draft wire memos concealing the nature of fund transfers and create false business documentation to justify account inflows and outflows," the release said.

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