15 suspects charged in $2.9M money laundering scheme, Texas officials say
Fifteen people have been indicted in connection to a $2.9 million money laundering scheme recently uncovered by state and federal investigators, according to the Texas Financial Crimes Intelligence Center.
One related scam, which officials described as “sophisticated,” targeted victims using email addresses that resembled businesses or people who the victims had an existing financial relationship with, according to a news release. The addresses contained nearly-undetectable alterations in format and spelling.
After a period of communication, the accused scammers would instruct the victims to redirect payments to a new bank account, according to the statement. The funds were received in U.S.-based bank accounts to avoid raising suspicion, and “money mules” were recruited to transfer stolen funds through laundering techniques, authorities said.
The broader investigation revealed multiple other kinds of wire fraud schemes, including romance scams, fake investment offers and fraudulent vacant land sales, Texas officials said. Each of those scams also used “mules” to launder the money collected.
Over 100 bank accounts associated with the scheme were shut down with help from financial institutions, state officials said.
Texas FCIC investigators worked with the U.S. Secret Service’s Baltimore and Houston offices, the U.S. Department of Health and Human Services Office of Inspector General, and the Houston Police Department to investigate the cases The white-collar unit at the Dallas County District Attorney’s Office is leading the prosecution of the suspects.
All in all, 29 first-degree felony charges were filed against the 15 suspects, including engaging in organized criminal activity, money laundering greater than $300,000, and theft greater than $300,000, according to the statement. The charges carry potential penalties of life or any term between 15 and 99 years in prison.
