Robert Gorodetsky, $9.6 Million Fraud Scheme, Illinois 2020

Chicago, IL - A brazen $9.6 million fraud scheme that left one individual reeling has been exposed, with a north suburban man pleading guilty to federal fraud and tax offenses. Robert Gorodetsky, 27, of Northbrook, pleaded guilty to one count of wire fraud and one count of filing a false tax return on April 29, 2020.

According to court documents, Gorodetsky schemed to defraud an individual of approximately $9.6 million in connection with purported stock market investments and wagers on sporting events from 2014 to 2018. He represented himself as a successful “day trader” who would invest the individual’s money in the stock market and share in the profits. However, Gorodetsky invested only $215,000 of the approximately $953,000 he initially obtained from the individual, pocketing the rest for his personal use.

Gorodetsky later falsely told the individual that his investments had increased to $2 million, and that the purported gains should be put toward sports wagers. He induced the individual to invest approximately $8.74 million of additional funds to wager on sports. Gorodetsky used much of this money for purposes unrelated to sports wagering, including personal expenditures such as living expenses, travel and entertainment costs, and luxury automobiles and jewelry.

The scheme resulted in a loss to the individual of approximately $7.1 million. In addition to the fraud, Gorodetsky failed to report the money he received from the individual as income on his tax returns, resulting in an approximate tax loss of more than $2.65 million.

Wire fraud is punishable by up to 20 years in prison, while the tax charge carries a maximum sentence of three years. The Court must impose a reasonable sentence under federal statutes and the advisory U.S. Sentencing Guidelines.

Gorodetsky’s guilty plea was announced by John R. Lausch, Jr., United States Attorney for the Northern District of Illinois; Kathy A. Enstrom, Special Agent-in-Charge of the IRS Criminal Investigation Division in Chicago; and Emmerson Buie, Jr., Special Agent-in-Charge of the Chicago office of the FBI. The government is represented by Assistant U.S. Attorney Patrick J. King, Jr.

Source: https://www.justice.gov/usao-ndil/pr/north-suburban-man-pleads-guilty-orchestrating-96-million-fraud-scheme