Insights from Five Related U.S. Criminal Court Cases

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