Roseville Man Pleads Guilty to $3.9M Money Laundering Scheme

ROSEVILLE, Calif. — In a stunning admission of guilt, Alex Altoh, 64, a resident of Roseville, has pleaded guilty to conspiracy to commit money laundering, according to U.S. Attorney Phillip A. Talbert.

Court documents reveal that from January 2021 through November 2021, Altoh and his co-defendant, Oumar Sidibe, 30, orchestrated a sophisticated scheme to launder the proceeds of two massive business email compromise scams. The victims were duped into transferring funds into bank accounts under Altoh’s control instead of the intended recipients. Altoh, Sidibe, and an unspecified number of accomplices then rapidly deposited checks, effectively moving the funds out of reach, hiding their illegal origins, and making them nearly impossible to recover. Authorities have linked the duo to roughly $3.9 million in fraud proceeds.

Under his plea agreement, Altoh has agreed to pay at least $1,478,000 in restitution. Sidibe remains at large and is considered a suspect until proven otherwise in court.

The investigation leading to this conviction was spearheaded by the Federal Bureau of Investigation. Assistant U.S. Attorneys Denise N. Yasinow and Matthew Thuesen are handling the prosecution of the case.

Scheduled for sentencing on September 24, 2024, Altoh faces a maximum penalty of 20 years in prison and a fine that could reach $500,000 or twice the value of the laundered property. The actual sentence will be determined by U.S. District Judge John A. Mendez based on statutory factors and Federal Sentencing Guidelines.

RELATED: Tracy Man Pleads Guilty to Bank Fraud and ID Theft in Mail Heist

RELATED: Twin Cities Robber Pleads Guilty to 5 Gas Station Heists