TOLEDO, Ohio – Kishan Vinayak Patel, a 26-year-old Indian national, has become the final defendant to face justice for his role in a colossal transnational money laundering conspiracy. The scheme, which bilked victims out of their life savings across Ohio, Michigan, Illinois, and Indiana, finally comes to a close as Patel is sentenced to 46 months (3.8 years) in federal prison.
Patel’s victims were spread across various Ohio counties including Lima, Sunbury, Goshen, and Zanesville. His co-defendant, Pranay Kumar Mamidi, was previously sentenced to 60 months (5 years) for his part in the scheme, and both Patel and Mamidi have been ordered to pay nearly $4 million in restitution.
Five other Indian nationals were also sentenced after pleading guilty to money laundering charges. They included Dileep Kumar Sakineni, Balaji Rakesh Mulpuri, Avi Jitendrakumar Patel, Sai Hruthik Thodeti, and Srinivas Ravi Valluru. Additionally, Hiren Jagdishbhai Patel of Columbus was sentenced to 39 months (3.25 years) after pleading guilty as well.
United States Attorney David M. Toepfer for the Northern District of Ohio vowed that the scheme’s end is a victory for hardworking Americans who were preyed upon by those who sought to enrich themselves through fraud and coercion. “To those who take advantage of others—and then launder their money on behalf of transnational criminal organizations—know that your callous actions will have consequences,” Toepfer said.
FBI Cleveland Special Agent in Charge Greg Nelsen echoed the sentiment, emphasizing the FBI’s dedication to protecting Americans from such deceptive criminals. “Targeting victims and knowingly siphoning their life savings is reprehensible,” Nelsen stated. “The FBI will continue to aggressively identify and investigate those who engage in money laundering schemes, whether domestically or globally.”
According to court documents, the defendants’ scheme spanned from May to November 2023, during which they employed a multi-layered plan to launder proceeds from a fraud scheme labeled as a “phantom hacker” scam. The scheme involved contacting victims and falsely claiming their accounts were compromised, followed by threats of arrest if funds were not transferred for safety. In reality, the money was funneled into the conspirators’ hands.
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Key Facts
- State: Ohio
- Agency: DOJ USAO
- Category: Fraud & Financial Crimes|Cybercrime
- Source: Official Source ↗
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