A Rhode Island business owner, Craig Clayton, has pleaded guilty in federal court to serious charges involving over $35 million in criminal money. Clayton ran a business that claimed to provide “virtual CFO” services—helping companies manage their finances remotely. But instead of offering honest services, he used his business to help criminals move stolen money through the U.S. financial system.
On May 8, 2025, Clayton stood before U.S. District Court Judge Richard G. Stearns and admitted to two federal crimes: conspiracy to commit money laundering and obstruction of justice. His sentencing is scheduled for August 13, 2025, in Boston federal court.
How the Fraud Scheme Worked
From 2019 to 2021, Craig Clayton used his company, Rochart Consulting, as a cover for illegal activities. With the appearance of being a financial service provider, Clayton created fake companies known as “shell companies.” These fake businesses had no real products or services. Their only purpose was to open bank accounts so that stolen money from internet scams could be moved through them.
The money came from foreign-based internet fraud schemes. Victims of these schemes were tricked into sending money, believing they were making real purchases or investments. Once the scammers had the money, they needed a way to move it without raising suspicion. That’s where Clayton came in. He used the shell companies and business bank accounts to launder the money—making it appear as if it came from a legal source.
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Clayton did not act alone. He worked with others to set up and run this operation. In his own words, he admitted to being a “money mule”—someone who moves stolen money for criminals. In private messages with partners, he said that being involved made them “complicit” in their clients’ crimes. He clearly understood that what he was doing was illegal.
He also tried to hide what he was doing from law enforcement. When he worried that his phone might be tapped, he told his partners to switch to encrypted apps like Signal, saying that WhatsApp could “be tapped.” In another message, he talked about finding “dirt” on a fraud victim who had reported the scam, hoping to use that information to distract police.
Attempts to Mislead and Delay Investigators
As banks and investigators started to ask questions about his businesses, Clayton told lies to protect himself. He claimed that his shell companies were real businesses, even though they existed only to hide criminal money. In one conversation with someone pretending to be a potential client, who was actually an undercover agent, Clayton bragged that he didn’t work with anyone who had connections to law enforcement.
Once Clayton found out that a federal grand jury was investigating him, he went even further to block the investigation. He lied to federal agents during an interview, giving them false information to try to throw them off. His actions were not just part of the original fraud—he was also actively working to stop the truth from coming out.
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What the Charges Mean
Craig Clayton has pleaded guilty to two federal crimes: conspiracy to commit money laundering and obstruction of justice. Each of these charges is extremely serious. For each one, Clayton could face up to 20 years in prison. He may also be ordered to pay large fines—up to $500,000 or even more, depending on how much money was involved in the crime.
In addition to prison time and fines, he could also be placed on supervised release for three years after serving his sentence. That means he would be monitored by the government to make sure he follows the law.
The final decision on Clayton’s punishment will be made by Judge Richard G. Stearns, who is overseeing the case. The sentencing is scheduled for August 13, 2025.
This case shows how someone in a position of trust—offering financial services—can cause serious harm by helping criminals hide their tracks. Craig Clayton used his business not to help companies grow, but to help fraudsters escape justice. Now, he faces the consequences of those choices in a federal courtroom.
