Steven Ferrill, Money Laundering, New Hampshire 2024

State: New Hampshire
Category: Fraud &#038; Financial Crimes
Source: <a href="https://www.justice.gov/usao-nh/pr/sanbornville-man-pleads-guilty-money-laundering-charges-connection-romance-scams" style="color:#cc0000;" target="_blank" rel="nofollow noopener">DOJ Press Release ÃƒÂ¢Ã¢â‚¬Â Ã¢â‚¬â€

CONCORD – A Sanbornville man has pleaded guilty to money laundering charges in connection to a romance scam targeting the elderly, U.S. Attorney Jane E. Young announces.

Steven Ferrill, 72, waived his right to indictment and pleaded guilty to an information charging one count of concealment money laundering. U.S. District Court Judge Joseph Laplante scheduled sentencing for January 26, 2024.

In October 2019, federal agents approached Ferrill to question him about financial transactions totaling more than $1 million involving his bank accounts. The Federal Bureau of Investigation (FBI) provided the defendant a “money mule” warning letter, which explicitly warned him that engaging in wire transfers on behalf of people he did not know could facilitate fraudulent schemes and expose him to criminal liability.

Despite the warning, the defendant continued to engage in transactions involving victims of romance scams. For example, in February 2020, Ferrill facilitated a wire transfer to his bank account from a victim, which he then re-routed overseas.

The charging statute provides a sentence of no greater than 10 years in prison, 3 years of supervised release, a fine of $250,000 and restitution. Sentences are imposed by a federal district court judge based upon the U.S. Sentencing Guidelines and statutes which govern the determination of a sentence in a criminal case.

The Federal Bureau of Investigation led the investigation. Assistant U.S. Attorney Charles L. Rombeau is prosecuting the case.

The case is part of the Department of Justice’s Elder Justice Initiative. If you or someone you know is age 60 or older and has experienced financial fraud, experienced professionals are standing by at the National Elder Fraud Hotline: 1-833-FRAUD-11 (1-833-372-8311).

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