MINNEAPOLIS – Thomas Thanh Pham, 53, of Burnsville, has been sentenced to 84 months in prison followed by three years of supervised release for defrauding a California electronics manufacturer out of $2,943,840, announced Acting U.S. Attorney Joseph H. Thompson.
“Fraudsters have flocked to Minnesota for far too long,” said Acting U.S. Attorney Joseph H. Thompson. “Pham is no exception. He is a serial fraudster who has demonstrated that he will not stop until he is stopped. Thanks to the hard work of law enforcement, for the next 84 months, Pham will be where he belongs—in prison.”
Between 2019 and 2020, Pham devised a scheme to defraud a California-based company of approximately $1.2 million. Pham, who was the CEO of Enterprise Products, LLC, purported to provide consulting and financial services to commercial clients involved in engineering and manufacturing.
Pham held himself out as a broker with supposed business relationships with large, well-known companies. As a supposed broker, Pham claimed he could arrange service agreements between an electronic manufacturing services company based in San Jose, California (identified as Victim A), and his ostensible business affiliates in the electronics and technology sectors.
Pham supplied Victim A with bogus documents, including fabricated contracts, correspondence, and business proposals. As part of the scheme, Pham first required Victim A to pay a “deposit bond” in the amount of $1,278,000. Pham’s fraudulent tactics resulted in Victim A agreeing to enter into a contract in September 2019, through which Victim A ostensibly would receive millions of dollars in exchange for repair services.
Pham received his first criminal conviction 32 years ago. Since that time, he has been convicted of numerous fraud offenses, including felony theft of property and felony false statements for property. Pham has demonstrated a long history of exploiting victims for his own financial gain. With his latest sentence, he will be held accountable for his crimes and will face the consequences of his actions, said Special Agent in Charge Alvin M. Winston Sr. of FBI Minneapolis.
Pham’s scheme was uncovered by law enforcement, who worked tirelessly to bring him to justice. The sentence handed down today serves as a warning to other would-be fraudsters: if you commit these crimes in Minnesota, you will be held accountable.
The court also ordered Pham to pay restitution in the amount of $2,943,840. This sentence brings an end to Pham’s reign of financial terror and serves as a reminder that crime does not pay in the long run.
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Key Facts
- State: Minnesota
- Agency: DOJ USAO
- Category: Fraud & Financial Crimes
- Source: Official Source ↗
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