Moslem Father-Son Duo, Bank Fraud, New York 2021

A father-son duo from Orange County has been sentenced to prison for their role in a multi-year fraud scheme that defrauded lenders and the Internal Revenue Service (IRS).

Mehdi Moslem, 73, and Saaed Moslem, 39, both of Central Valley, New York, were sentenced to 96 months and 40 months in prison, respectively, for their involvement in a scheme that netted them millions of dollars in fraudulent loans.

According to the indictment, from 2009 through 2018, Mehdi and Saaed Moslem conspired to defraud the United States by concealing profits from their car dealership, Exclusive Motor Sports, and other businesses from the IRS.

The duo, along with their accountant, prepared partnership tax returns that significantly understated the dealership's inventory, resulting in a nearly $1 million underpayment in federal and state taxes.

Furthermore, Mehdi and Saaed Moslem conspired to commit bank fraud by providing falsely inflated net worth statements and fabricated tax returns in connection with loan applications, including a $1.5 million mortgage on the Exclusive Motor Sports property in Central Valley.

Saaed Moslem was also found guilty of aggravated identity theft by using a customer's personal identifying information in connection with a fraudulent car loan application.

In addition to their prison terms, Mehdi Moslem was ordered to pay restitution in the amount of $1,040,685.58 and a $100,000 fine. Saaed Moslem was ordered to pay forfeiture in the amount of $1,927,303.25 and a $200,000 fine.

Source: https://www.justice.gov/usao-sdny/pr/father-and-son-owners-orange-county-car-dealership-sentenced-fraud