FRESNO, Calif. — The grimy details of a financial conspiracy have emerged as 42-year-old Ramsey Jeries Farraj, from Bakersfield, pleaded guilty to structuring $4,204,965 in cash deposits obtained from the sale of smokable synthetic drugs.
Known as K-2 or spice, these synthetic cannabinoids can be deadly and are often marketed as incense. Farraj and his former business partner, Majed Bashir “Mike” Akroush, 49, sold them through online businesses Blue Whale and World of Incense. They funneled the proceeds into various bank accounts to avoid $10,000 transaction reporting.
In a plea deal, Farraj agreed to forfeit over $5 million in seized assets, including properties, vehicles, jewelry, and domain names linked to the illegal drug sales.
This operation is part of Project Synergy Phase III, a nationwide effort against synthetic drugs. Federal law enforcement arrested several individuals and executed search warrants across California.
Farraj faces up to five years in prison and a fine twice his gains. Akroush and Haitham Eid Habash await charges while Elodat is scheduled for sentencing this year.
The investigation was conducted by the DEA, IRS-CI, CHP, FBI, ICE-HSI, and multiple California law enforcement agencies. Assistant U.S. Attorneys are prosecuting the case as an OCDETF initiative, targeting major drug organizations.
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Key Facts
- State: California
- Agency: DOJ USAO
- Category: Drug Trafficking|Fraud & Financial Crimes|Organized Crime
- Source: Official Source ↗
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