Indian-origin legal professional Abhijit Das arrested in US for fraud more than USD 5 million | World News
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A fifty-calendar year-previous Indian-origin legal professional and a previous prospect for the US Home of Reps has been arrested in the US for allegedly defrauding an India-dependent organization of much more than USD 5 million and making use of consumer cash for private bills, the Division of Justice mentioned.
Abhijit Das, aka “Beej”, of North Andover, was arrested past 7 days right after getting indicted by a federal grand jury in Boston on June twenty on 10 counts of wire fraud for allegedly diverting cash from his clients’ accounts to other accounts and making use of the cash for private bills, which include a yacht owned by 1 of his resorts, as properly as USD 2.7 million for his residence in Florida.
A previous US Home of Reps prospect, Das was arrested in June 2021 for allegedly violating the Federal Election Marketing campaign Act and fake statements, the Division of Justice mentioned in a push launch past 7 days.
In accordance to the indictment, from about May well 2020, Das, an legal professional and principal supervisor of a boutique regulation and advisory business, commenced delivering authorized illustration and escrow solutions to two twin brothers and their logistical offer organization in India that was coordinating huge shipments Private Protecting Gear (PPE) in the course of the pandemic.
Das diverted much more than USD 5 million in escrow cash from his clients’ accounts to other accounts. The indictment alleged that he employed the cash for private bills – which include bills for his regulation business, a yacht owned by 1 of his resorts, and USD 2.7 million for his Boca Raton (Florida) residence.
Das allegedly induced his customers to transfer cash to accounts he managed in multi-stage, layered transactions below the guise of authorized tips about the danger of probable litigation and supplied customers with fraudulent and solid account statements to conceal the plan, the assertion mentioned.
It even further alleged that Das fully commited 9 of the 10 counts of wire fraud whilst on courtroom-mandated pre-demo launch problems ensuing from his June 2021 indictment.
That previously indictment billed him with marketing campaign finance violations, embezzlement of marketing campaign cash and building materially fake statements to the Federal Election Fee.
The wire fraud prices just about every give for a sentence of up to twenty a long time in jail, a few a long time of supervised launch and a wonderful of USD 250,000, or 2 times the gross get or decline, whichever is increased, the assertion mentioned.
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