Ketan Ghutadaria, Wire Fraud, New Jersey 2020

Tennessee Man Charged with Wire Fraud in New Jersey

A Tennessee man has been charged with two counts of wire fraud, accused of using a company's bank account information to pay off his personal financial debts.

Ketan Ghutadaria, 50, of Johnson City, Tennessee, is scheduled to make his initial appearance before a New Jersey judge today. He was arrested in Tennessee on August 13, 2020 by inspectors of the U.S. Postal Inspection Service (USPIS).

According to documents filed in the case, Ghutadaria used a company's bank account information to pay off his personal financial debts from March 2018 through September 2018. He authorized companies to submit Automated Clearing House (ACH) debit transactions for bill payments, which were deducted from the victim company's bank account in New York.

The charge of wire fraud carries a maximum sentence of 20 years in prison and a $250,000 fine, or twice the gross pecuniary gain or loss from the offense, whichever is greater.

The investigation leading to the charges was conducted by postal inspectors from the USPIS, Newark Division, under the direction of Inspector in Charge James Buthorn, and other agencies.

The charges and allegations in the complaint are merely accusations, and Ghutadaria is presumed innocent unless and until proven guilty.

Source: https://www.justice.gov/usao-nj/pr/tennessee-man-charged-wire-fraud