Description: White Plains, New York criminal defense lawyers represented the Defendant accused for wire fraud, bank fraud, money laundering, aggravated identity theft, and other offenses.

From at least in or about February 2021 through at least in or about June 2021, Martin Mizrahi, a/k/a "Marty Mizrahi," and his co-defendants participated in multiple schemes to defraud banks and credit card companies and to launder narcotics proceeds in addition to the fraud proceeds received.

Beginning in or about February 2021, MIZRAHI began accepting bulk cash narcotics proceeds, which he laundered for individuals associated with a Mexican-based cartel by converting the money into Bitcoin and then sending it to anonymous cryptocurrency wallets provided to him by co-conspirators. In addition, MIZRAHI laundered fraud proceeds sent to his company by wire transfer, which he also converted into cryptocurrency before sending it to anonymous cryptocurrency wallets. Those funds were obtained through, among other things, a business email compromise scheme in which a New York City-based non-profit organization had more than $3 million dollars stolen from it by hackers. Between February and June 2021, MIZRAHI laundered a total of more than $4 million in fraud and narcotics proceeds.

In addition, between April and June 2021, MIZRAHI participated in a credit card fraud scheme in which he ran nearly $8 million in fraudulent credit card charges through his company. Those charges were run on multiple credit cards issued in the names of third parties, some of which had been stolen, and without any legitimate work being done or services being provided. As part of the scheme, MIZRAHI prepared false invoices which he sent to banks and credit card companies to justify the charges.

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MARTIN MIZRAHI, 51, of Las Vegas, Nevada, was convicted of (i) conspiracy to commit wire fraud and bank fraud, which carries a maximum sentence of 30 years in prison; (ii) wire fraud, which carries a maximum sentence of 20 years in prison; (iii) bank fraud, which carries a maximum sentence of 30 years in prison; (iv) conspiracy to commit money laundering, which carries a maximum sentence of 20 years in prison; (v) money laundering, which carries a maximum sentence of 20 years in prison; (vi) aggravated identity theft, which carries a mandatory minimum sentence of two years in prison to run consecutively to any other prison terms imposed; and (vii) conspiracy to operate an unlicensed money transmitting business, which carries a maximum sentence of five years in prison.

The minimum and maximum potential sentences in this case are prescribed by Congress and are provided here for informational purposes only, as any sentencing of the defendant will be determined by a judge.

Mr. Williams praised the Federal Bureau of Investigation for its outstanding work on the investigation.

Charges:

18:1349.F ATTEMPT AND CONSPIRACY TO COMMIT WIRE FRAUD AND BANK FRAUD
(1)
18:1349.F ATTEMPT AND CONSPIRACY TO COMMIT WIRE FRAUD AND BANK FRAUD
(1s)
18:1343.F FRAUD BY WIRE, RADIO, OR TELEVISION
(2)
18:1343.F FRAUD BY WIRE, RADIO, OR TELEVISION
(2s)
18:1344A.F BANK FRAUD
(3)
18:1344A.F BANK FRAUD
(3s)
18:1956-4999.F MONEY LAUNDERING - FRAUD, OTHER (CONSPIRACY)
(4)
18:1956-4999.F MONEY LAUNDERING - FRAUD, OTHER (CONSPIRACY)
(4s)
18:1956-4999.F MONEY LAUNDERING - FRAUD, OTHER
(5)
18:1956-4999.F MONEY LAUNDERING - FRAUD, OTHER
(5s)
18:1028A.F FRAUD WITH IDENTIFICATION DOCUMENTS (AGGRAVATED IDENTITY THEFT)
(6)
18:1028A.F FRAUD WITH IDENTIFICATION DOCUMENTS (AGGRAVATED IDENTITY THEFT)
(6s)
18:371.F CONSPIRACY TO OPERATE AN UNLICENSED MONEY TRANSMITTING BUSINESS
(7s)

The prosecution of this case is being handled by the Office’s White Plains Division and the Illicit Finance and Money Laundering Unit. Assistant U.S. Attorneys Benjamin Klein and Emily Deininger are in charge of the prosecution, with the assistance of Paralegal Specialists Dean Iannuzzelli and Nerlande Pierre.

Outcome: Defendant was found guilty.

Plaintiff's Experts:

Defendant's Experts:

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