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Insights from Five Related U.S. Criminal Court Cases

International Criminal Organization Executed Multi-layered Fraud Schemes; Stole from Hundreds of Victims, and Laundered Millions

In September 2021, thirty-five defendants were indicted in the Eastern and Northern Districts of Texas in five related criminal cases involving an international criminal organization.

In this industry commentary, anti-financial crime expert Denise Hutchings explores key insights into the operations of this sophisticated criminal organization, compiled from various court documents. Read how they executed multi-layered fraud schemes, including romance scams and business email compromise, and laundered funds on a massive scale, with an estimated global loss of $17M.

Other key themes include:

  • The pervasive exploitation of the financial system
  • Voluminous evidence from numerous financial institutions
  • The use of insiders at financial institutions
  • Money bouncing rapidly through various and multiple accounts
  • Domestic and international conspirator bank accounts
  •   BSA/AML
  •   Fraud
  •   Human Trafficking
  •   Wire Fraud

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