The FBI arrested three people in Monsey early Thursday morning. The U.S. Attorney says the were arrested for carrying out a multimillion-dollar scheme to operate an unlicensed money transmitting business for the purpose of transmitting proceeds derived from illegal activity.
According to allegations contained in the complaint unsealed today in Manhattan federal court, the three were arrested following a sting operation.
From approximately in or about September 2014 to in or about August 2016, the three engaged in a series of conversations and meetings with a confidential witness (the “CW”). In order to induce the CW to invest approximately $6 million in property owned by one of the men and his family, the defendants agreed to receive and transmit what they believed to be millions of dollars of funds that the CW had illegally obtained from his business. The defendants agreed to conceal the source of the CW’s money by transmitting the CW’s money to third parties, with the expectation that it would be returned to the CW, in return for a 10% “fee.”
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