CHARLOTTE, N.C. – A brazen scheme to steal over $1.9 million from Appalachian State University (ASU) has been foiled by law enforcement, with $1,542,442.33 in ill-gotten gains being distributed to the university.
According to allegations contained in the civil forfeiture complaint, one or more alleged fraudsters convinced ASU staff to forward over $1.9 million to one or more companies operated by them. The fraudsters posed in emails as a legitimate construction company building ASU’s new health sciences facility. After receiving the funds, the alleged fraudsters used numerous bank wire transfers to launder the money among various companies.
Court records indicate that, upon discovery of the fraud, ASU notified the FBI and fully assisted in the investigation. The FBI ultimately located $1,542,442.33 of the money dispersed in multiple bank accounts and obtained forfeiture seizure warrants for it, preventing the wrongdoers from absconding with ASU’s funds.
Defendant: No defendant name was provided in the source.
Crime: Money Laundering
City and State: CHARLOTTE, N.C.
Date: December 2016
Outcome: $1,542,442.33 in ill-gotten gains were distributed to Appalachian State University following civil forfeiture proceedings.
U.S. Attorney R. Andrew Murray commended the work of the FBI and thanked ASU officials for their prompt efforts to notify law enforcement of the fraud. Assistant United States Attorney Benjamin Bain-Creed of the United States Attorney’s Office in Charlotte handled the proceedings.
Appalachian State University is the victim of this crime. No restitution was mentioned in the source.
In Fiscal Year 2017, the Western District of North Carolina collected $23,476,979.90 in criminal and civil actions. Of this amount, $4,719,016.01 was collected in criminal actions and $18,757,963.89 was collected in civil actions.
Key Facts
- State: North Carolina
- Category: White Collar Crime
- Source: DOJ Press Release â†â€â€
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