Repeat Offender Minang Back in Court for BEC Scheme

BOSTON – Yannick A. Minang, 27, of Hingham, Massachusetts, is facing more federal heat after pleading guilty today to a complex Business Email Compromise (BEC) scheme. This isn’t Minang’s first rodeo; he was already serving time for a separate money laundering conviction when this latest fraud came to light. The system clearly isn’t working when repeat offenders like Minang are back in court.

Minang admitted to five counts of wire fraud, one count of unlawful monetary transactions, and one count of conspiracy to launder money. U.S. District Court Judge Patti B. Sarris has scheduled sentencing for December 16, 2020. The feds are building a solid case, and Minang is likely looking at significant additional time on top of his existing 46-month sentence from the 2019 BEC conviction.

According to court documents, Minang and his crew opened a network of bogus bank accounts under the names of shell companies across Massachusetts. This was the engine of the BEC scheme, a particularly nasty type of fraud that preys on businesses making wire transfers. They compromised legitimate email accounts – “spoofing” them, as the techies say – and tricked employees into sending hundreds of thousands of dollars into those accounts. The sophistication of these scams is increasing, and businesses are constantly playing catch-up.

The scheme relied on fraudulent invoices and those expertly crafted, spoofed emails to convince victims to transfer funds. Once the money hit the accounts Minang controlled, it was quickly funneled overseas, making recovery nearly impossible. This isn’t just about stolen money; it’s about the ripple effect on businesses, employees, and the overall economy. It’s a calculated attack on legitimate commerce.

The potential penalties are steep. Each wire fraud count carries a maximum sentence of 20 years in prison, three years of supervised release, and a $250,000 fine (or twice the gross gain or loss, whichever is greater). The unlawful monetary transactions charge carries up to 10 years, and the money laundering conspiracy charge up to 20 years, along with hefty fines. However, the final sentence will be determined by Judge Sarris, taking into account the U.S. Sentencing Guidelines and other factors.

United States Attorney Andrew E. Lelling and Joseph R. Bonavolonta, Special Agent in Charge of the FBI’s Boston Field Division, announced the guilty plea. Assistant U.S. Attorney William B. Brady and Jordi de Llano are leading the prosecution. This case serves as a stark reminder that those who exploit businesses through cyber fraud will be pursued and held accountable – even if they’re already behind bars.