Florida Man Convicted In Business Email Compromise And Money Laundering Scheme Targeting Hedge Fund | USAO-SDNY


Damian Williams, the United States Attorney for the Southern District of New York, announced that a jury had returned a guilty verdict against MUSTAPHA RAJI for his involvement in a $1.7 million commercial email compromising and money laundering scheme. Dollar that targeted a hedge fund in Manhattan. RAJI was convicted on four counts of conspiracy to commit wire fraud, wire fraud, receiving stolen property and conspiracy to commit money laundering. RAJI was found guilty after a trial that lasted approximately a week before US District Judge Jesse M. Furman. RAJI was arrested on December 20, 2019.

US Attorney Damian Williams said: “Email scams targeting businesses in this district will not be tolerated. Together with our law enforcement partners, we will continue to diligently prosecute overseas online scammers and the US-based money launderers they work with to protect American businesses.”

Also Read :  Joseph B. Churchman Sr., business professional

As reflected in the indictment, public filings and evidence presented at trial:

RAJI participated in an international scam ring that ran phishing and other email scam campaigns. One such campaign involved the compromise of a hedge fund founder’s business email account in New York in July 2018. This compromise resulted in the fraudulent redirection of a $1.7 million transfer from the hedge fund to a corporate bank account used for implementation of the program was used. RAJI was a registered officer of the company that received the stolen funds, he fabricated documents to cover up the fraudulent transfer of funds from the hedge fund, and he directed a co-conspirator to allocate the stolen funds to other co-conspirators at home and abroad to wash . RAJI took a $50,000 cut for his participation in the program.

Also Read :  How To Choose The Right Business To Start: 8 Effective Tips

* * *

RAJI, 52, of Hollywood, Fla., was convicted of conspiracy to wire fraud, which carries a maximum sentence of 20 years in prison; a wire fraud case carrying a maximum sentence of 20 years in prison; a count of receiving stolen money, carrying a maximum sentence of 10 years in prison; and a charge of conspiracy to commit money laundering, which carries a maximum sentence of 20 years in prison.

Also Read :  Oil falls as China demand concerns fuel recession fears

RAJI is scheduled to be sentenced before Judge Furman on January 11, 2023 at 3:15 p.m

The maximum possible penalties are prescribed by Congress and are provided here for informational purposes only, as each conviction of the defendant is determined by the judge.

Mr. Williams commended the excellent investigative work of the Federal Bureau of Investigation.

This case is being handled by the Office’s Complex Fraud and Cybercrime Unit. United States Assistant Attorneys Catherine Ghosh, Jilan Kamal, Dina McLeod and Robert B. Sobelman are prosecuting.



Source link