Six Men Accused in Elderly Telemarketing Swindle

New York’s gritty streets were the backdrop for a grim tale of deception as six New Jersey men, including Arash Ketabchi and Andrew Owimrin, were arraigned in Manhattan federal court today on charges of wire fraud and money laundering. The defendants are alleged to have targeted elderly investors, convincing them to invest in fraudulent schemes with promises of high returns.

Acting United States Attorney Joon H. Kim called the scheme a ‘despicable crime,’ stating that the suspects convinced their victims to invest in business developments that never materialized, resulting in losses totaling thousands of dollars. The elderly were, in fact, swindled out of their hard-earned savings.

According to federal prosecutors, the alleged ring operated from October 2013 through September 2016, using a network of telemarketing companies to defraud unsuspecting victims. They promised services like website design and business development as an initial ‘investment,’ but failed to deliver on their promises. When victims sought refunds or challenged credit card charges, the companies provided false documentation, misleading credit card companies into believing that the services were rendered.

HSI Special Agent-in-Charge Angel M. Melendez emphasized the importance of due diligence for anyone considering investments, cautioning that if returns seem too good to be true, they probably are. The NYPD’s Commissioner James P. O’Neill underscored the impact on the most vulnerable members of society, saying the suspects targeted elderly individuals with promises of big payoffs while actually preying on their trust and taking advantage of their limited resources.

The defendants, who operated companies like A1 Business Consultants and Carlyle Management Group, are now facing serious charges. The case is a stark reminder of the need for vigilance against such predators and the collaborative efforts required to bring them to justice. The suspects will appear before U.S. Magistrate Judge Henry B. Pitman in Manhattan federal court.

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