Rakeshkumar Patel, Wire Fraud Conspiracy, Delaware 2024

Rakeshkumar Patel, 36, of Flushing, New York, pleaded guilty to wire fraud conspiracy for his role in an elder fraud scam targeting older Americans in Delaware and nationwide.

According to court documents, between May 2023 and May 2024, Patel conspired with others to defraud elderly victims of at least $2,154,889. The victims were contacted over the phone by fraudsters posing as federal agents, who convinced them to liquidate their life savings and convert those savings into cash or gold bars.

The victims were then directed to deliver that cash or gold to couriers posing as federal agents, who picked up the cash or gold from the victims’ residences or other public places.

Acting U.S. Attorney Shannon T. Hanson stated, “The Elder Justice Initiative is committed to protecting elderly victims from being swindled out of their hard-earned life savings by bad actors like Patel. Together, with our law enforcement partners, my office will continue to identify, investigate, and prosecute those who scam the elderly for financial gain.”

FBI Baltimore Special Agent in Charge Bill DelBagno added, “When you talk to victims, you see and hear how gut wrenching and devastating these scams are. They’re often facing deep financial anxiety and are emotionally distressed, with the aftereffects weighing heavy on all aspects of their lives.”

The National Elder Fraud Hotline is available to help victims aged 60 or older who have been targeted by financial scams. The hotline can be reached at 1-833 FRAUD-11 (1-833-372-8311). Victims can also report fraud to any local law enforcement agency or on the FBI’s Internet Crime Complaint Center at www.ic3.gov.

Rakeshkumar Patel faces over five years in federal prison when sentenced, with Judge Richard G. Andrews to determine the defendant’s sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

This case was investigated by the FBI’s Baltimore Field Office’s Wilmington Resident Agency. Assistant U.S. Attorneys William E. LaRosa and Alexander P. Ibrahim are prosecuting the case.

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