The social media celeb was charged with running a global fraud operation, including targeting an English Premier League football club, a bank and a US law firm.
He was apprehended in Dubai in June of this year and was extradited to the United States of America.
He later appeared in court last Thursday.
The 37 years old Instagram celebrity, who claims to run a real estate business, is alleged to have conspired to launder hundreds of millions of dollars through business email compromise (BEC) frauds and other scams, the US Department of Justice (DoJ) said.
He is also accused of laundering $14.7m stolen in a cyber-heist from an unnamed bank in February 2019, sending the money to bank accounts around the world.
Hushpuppi is currently held at the Metropolitan Correctional Center, Chicago, the Federal Bureau of Prisons website says.
He will be transferred to Los Angeles in the coming weeks, according the Justice Department.
If convicted of money laundering, he would face a maximum sentence of 20 years in prison.
