Norman Gray Indicted for $1.2M Wire Fraud Scheme

NORMAN GRAY, the CEO of a purported global biomedical company, has been indicted on wire fraud charges for an alleged scheme that defrauded a victim out of over $1.2 million.

According to U.S. Attorney Damian Williams and Acting HSI Special Agent-in-Charge Ricky J. Patel, Gray lured his victim with false promises of high-risk, low-return investment opportunities in his company’s PPE deals. In reality, the investments were fictitious and the funds were funneled into Gray’s personal expenses.

GRAY is accused of taking $250,000 from Victim-1 under the guise of an equity stake in the Biomedical Company. He then solicited an additional $1.2 million, claiming the money would be used for PPE procurement deals with major universities. Instead, it was used for general operating expenses and a luxury SUV purchase.

Adding to his deception, Gray created a fictitious mortgage company and broker, “Tranctus Group” and Benjamin Mabry, respectively, to lend credibility to his scheme. Victim-1 received no returns on their investment and no mortgage commitment.

GRAY was arrested this morning and will appear before U.S. Magistrate Judge Debra Freeman later today. The case is assigned to United States District Judge Lorna G. Schofield.

Williams emphasized the HSI’s role in bringing Gray to justice, stating, “We thank the HSI for their assistance in this investigation and charge.” Patel echoed the sentiment, emphasizing HSI’s commitment to stopping fraudulent activities that prey on unsuspecting investors.

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