Two Indian residents have been found guilty of conspiracy to launder money. They hid the source of illegal funds and used that money to support a criminal organization, according to the U.S. Attorney’s Office for Northern Ohio.
Pranay Kumar Mamidi, 27, and Kishan Vinayak Patel, 26, were involved in a complex scam where they tricked victims into thinking their bank accounts were hacked, according to the department.
The victim is then sent to a fake government agent for help, according to the department.
The scammer pretends to be an official and tricks victims, usually older people, into thinking they are being investigated, according to the department.
Next, a third scammer pretends to be a Drug Enforcement Administration agent. They tell the target that their account is being looked into for fraud and that there is an arrest warrant out for them, according to the department.
Worried about legal action, the victim follows the scammer’s advice to take out their savings and turn it into cash or gold bars, according to the department.
The victim is told to give the money to another fake police officer at a specific drop-off spot, like a gas station or fast-food place, the department said.
After the drop, the victim receives a statement that looks like it’s from the U.S. Department of the Treasury, making the scam seem more real, according to the department.
The U.S. laundering network allowed stolen money to be transferred to other countries, the department said.
Investigators believe that the total amount of money that has been moved is in the tens of millions of dollars, according to the department.
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