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National Insurance Crime Bureau

EDTX Indicts Two Dozen Defendants in International Multi-Scheme Fraud Conspiracy

US Attorney’s Office, Eastern District of Texas, Sept. 24, 2021

Conspirators are Alleged to Have Used a Multitude of Fraud Schemes, Including Romance Scams, Investment Fraud, and Business Email Compromise, to Steal at Least $17 Million

SHERMAN, Texas – A federal grand jury in Sherman has returned a two-count indictment charging 23 individuals in a fraud scheme in the Eastern District of Texas, announced Acting U.S. Attorney Nicholas J. Ganjei today.

The indictment, returned on Sep. 8, 2021, charges multiple individuals with conspiracy to commit wire fraud and conspiracy to commit money laundering. The indictment remained sealed until this week, when the defendants were arrested and arraigned.

“The criminal conduct alleged in this case is sophisticated in its means, expansive in its scope, and callous in its aims,” said Acting U.S. Attorney Nicholas J. Ganjei. “The indictment alleges a scheme where all manner of fraud—including romance and investment scams—was unleashed on an unsuspecting American public, including the elderly and most vulnerable, with the ill-gotten gains syphoned off and funneled overseas. The amount of loss, both financial and emotional, alleged in this case is nothing short of staggering.”

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