Money is attractive to people for many reasons. After all, it can buy goods and services, and nobody wants to be broke. Some people will go to great lengths to defraud others for their benefit, and while they may think they can get away with their crimes, they eventually get caught.
A Maryland man is facing 90 months in prison for his elaborate money laundering schemes. On April 1, the 37-year-old man from Hyattsville pled guilty to various criminal charges, including two counts of conspiracy to commit money laundering, two counts of bank fraud, and one count of aggravated identity theft.
The man, a Nigerian national, was involved in six schemes to deposit and launder stolen checks with a value of at least $355,000. After his 7 ½-year prison term, he will be on supervised release for four years. He was also ordered to pay $124,157 in restitution, as well as $303,207 in money judgment.
Between August 2017 and August 2018, the man worked with several co-conspirators to engage in multiple fraud schemes. They would get a hold of stolen or unauthorized checks from victims and then create fraudulent bank accounts and shell corporations. They then deposited the checks in the accounts and laundered the proceeds. The man would use aliases and fake IDs to commit the fraud. In one case, he used the name and Social Security number of one of the victims.
In all, the man was involved in six schemes that targeted individuals and companies. The man and his co-conspirators stole the checks from eight victims, for a grand total of $355,745.29. The schemes involved money laundering, bad checks, and compromised business emails.
Three other men were involved in the scheme and have been charged. In June 2019, a 42-year-old man from Washington D.C, was sentenced to 10 years in prison and five years of supervised release. He was also ordered to pay $905,274 in restitution. A 36-year-old man from Hyattsville has pled guilty to several crimes and will be sentenced on October 1. A 37-year-old man from Washington, D.C., has been indicted on money laundering and fraud charges, but has pled not guilty.
This federal case was investigated by multiple agencies, including the FBI, the Federal Deposit Insurance Corporation, U.S. Department of Homeland Security, and U.S. Postal Inspection Service.
While money laundering is not a violent crime, it is one that can result in federal charges. These offenses are punished strictly, often resulting in prison time as well as restitution.
Get a solid defense from the Columbia white collar crime lawyers at The Law Offices of Todd K. Mohink, P.A. We can provide aggressive legal representation so you can protect your legal rights. To schedule a consultation, call (410) 774-5987 or fill out the online form. We have two offices to serve you.
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