Queens Man Convicted Of Money Laundering And Bank Fraud
summary
Djonibek Rahmankulov, a 34-year-old Queens man, was convicted of money laundering conspiracy, bank fraud, and conspiracy to operate an unlicensed money transmitting business for laundering millions in proceeds from COVID-19 SBA loan fraud, Medicare/Medicaid pharmacy scams, and computer hacking, using shell companies and false statements to banks, and faces up to 55 years in prison with sentencing set for January 5, 2023.
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Djonibek Rahmankulov was convicted on three counts: money laundering conspiracy (max 20 years), bank fraud (max 30 years), and conspiracy to operate an unlicensed money transmitting business (max 5 years), totaling a potential 55-year sentence. He laundered millions of dollars from multiple criminal schemes, including fraudulent COVID-19 SBA loan applications, Medicare/Medicaid billing for undispensed HIV medications, and proceeds from computer-hacked bank accounts. Rahmankulov used a network of shell companies, made false statements to financial institutions during account openings and transactions, and facilitated illegal international money transfers, including to Iran.
narrative
Djonibek Rahmankulov, a 34-year-old resident of Queens, New York, was convicted by a jury on charges of money laundering conspiracy, bank fraud, and conspiracy to operate an unlicensed money transmitting business for orchestrating a multi-year criminal enterprise. Between 2017 and September 2020, he operated a network of shell companies to launder millions of dollars derived from computer hacking, Medicare/Medicaid fraud involving fraudulent HIV medication billing, and fraudulent applications for COVID-19 Small Business Administration relief loans. Rahmankulov received stolen funds via fraudulent wire transfers from compromised bank accounts and funneled them through layered accounts to obscure their origin, while also making materially false statements to banks during account openings and transactions. He further used the illicit proceeds to fund an unlicensed international money transmitting business that moved funds to and from multiple countries, including Iran. The U.S. Attorney’s Office for the Southern District of New York prosecuted the case, with investigative support from the FBI’s New York Money Laundering Investigation Squad. Rahmankulov is scheduled to be sentenced on January 5, 2023, by U.S. District Judge Ronnie Abrams, facing a maximum penalty of 55 years in prison.
Classified health-care-fraud(confidence 85%). No EDGAR filing fingerprint (criminal/DOJ-side scheme). detection rule →
Parties
damian williamsdjonibek rahmankulov
Keywords
money launderingmoneyrahmankulovbank accountsbanklaunderingfraudbank fraudmillions dollarsconvicted moneyprison sentencelinkaccountsproceedslaundering bank
Extracted insights
Entities 3
- person damian williams
- person djonibek rahmankulov
- scheme_term network of shell companies for money laundering between 2017 and september 2020
Triples 12
- Djonibek Rahmankulov convicted of Money Laundering Conspiracy, Bank Fraud, Conspiracy to Operate Unlicensed Money Transmitting Business
- Djonibek Rahmankulov laundered Millions of Dollars from COVID SBA Loans, Medicare and Medicaid Fraud, Computer Hacking
- Djonibek Rahmankulov operated Network of Shell Companies for Money Laundering Between 2017 and September 2020
- Djonibek Rahmankulov worked with Computer Hackers Who Fraudulently Gained Control of Bank Accounts
- Djonibek Rahmankulov worked with Network of Pharmacies Engaged in Medicare and Medicaid Fraud
- Djonibek Rahmankulov filed Fraudulent COVID Relief Loan Applications to Small Business Administration in 2020
- Djonibek Rahmankulov made Materially False Statements to Financial Institutions
- Djonibek Rahmankulov scheduled for sentencing January 5, 2023 by U.S. District Judge Ronnie Abrams
- Djonibek Rahmankulov faces maximum prison sentence of 20 Years for Money Laundering Conspiracy, 30 Years for Bank Fraud, 5 Years for Unlicensed Money Transmitting
- Damian Williams announced Guilty Verdict Against Djonibek Rahmankulov
- Djonibek Rahmankulov age 34
- Djonibek Rahmankulov resides in Queens, New York
Extracted body text (4,453c)
Press Release Queens Man Convicted Of Money Laundering And Bank Fraud Friday, September 2, 2022 Share FacebookLinks to other government and non-government sites will typically appear with the “external link” icon to indicate that you are leaving the Department of Justice website when you click the link. XLinks to other government and non-government sites will typically appear with the “external link” icon to indicate that you are leaving the Department of Justice website when you click the link. LinkedInLinks to other government and non-government sites will typically appear with the “external link” icon to indicate that you are leaving the Department of Justice website when you click the link. Email For Immediate Release U.S. Attorney's Office, Southern District of New York Djonibek Rahmankulov Laundered Millions of Dollars of Proceeds from Fraudulently Obtained COVID SBA Loans, Medicare and Medicaid Fraud, and Computer Hacking Damian Williams, the United States Attorney for the Southern District of New York, announced that a jury returned a guilty verdict against DJONIBEK RAHMANKULOV on counts of money laundering conspiracy, bank fraud, and conspiracy to operate an unlicensed money transmitting business. RAHMANKULOV is scheduled to be sentenced on January 5, 2023, by U.S. District Judge Ronnie Abrams. U.S. Attorney Damian Williams said: “Djonibek Rahmankulov exploited the United States financial system to launder millions of dollars of proceeds of fraud. He lied repeatedly to banks in furtherance of his illegal money laundering enterprise. Yesterday, a jury found Rahmankulov guilty of his crimes, and he faces the possibility of a lengthy prison sentence.” According to the superseding indictment and the evidence at trial: Between 2017 and September 2020, RAHMANKULOV operated a network of shell companies that were used to launder millions of dollars of criminal proceeds from multiple types of criminal activity. RAHMANKULOV worked with computer hackers who fraudulently gained control of the bank accounts of victims located throughout the United States and executed millions of dollars in fraudulent wire transfers into bank accounts opened by RAHMANKULOV and his co-conspirators. RAHMANKULOV received wire transfers into bank accounts he created and bank accounts he instructed others to create and laundered these proceeds through multiple additional bank accounts to prevent the victims and the banks from recovering the stolen funds. In addition, RAHMANKULOV worked with a network of pharmacies engaged in Medicare and Medicaid fraud. These pharmacies submitted millions of dollars of fraudulent billing for HIV medications that they did not dispense or obtained illegally, including by repurchasing medications from HIV patients who were Medicaid recipients. RAHMANKULOV created companies to receive these criminal proceeds from the pharmacies and laundered them through a variety of means, including by using them to fund an unlicensed money transmitting business that illegally moved money to and from multiple countries, including Iran. In 2020, when the COVID-19 pandemic began, RAHMANKULOV filed fraudulent applications for COVID relief loans from the Small Business Administration for multiple companies he controlled. He laundered the proceeds of loans and grants through these companies. RAHMANKULOV also made a number of materially false statements to financial institutions in connection with his money laundering schemes, both when opening bank accounts and when executing financial transactions with those bank accounts. * * * RAHMANKULOV, 34, of Queens, New York, was convicted on one count of money laundering conspiracy, which carries a maximum prison sentence of 20 years; one count of bank fraud, which carries a maximum prison sentence of 30 years; and one count of conspiracy to operate an unlicensed money transmitting business, which carries a maximum prison sentence of five years. Mr. Williams praised the outstanding investigative work of the Federal Bureau of Investigation’s New York Money Laundering Investigation Squad. The prosecution is being handled by the Office’s Money Laundering and Transnational Criminal Enterprises Unit. Assistant U.S. Attorneys Cecilia Vogel, Thane Rehn, and Samuel Raymond are in charge of the prosecution. Contact Nicholas Biase (212) 637-2600 Updated September 2, 2022 Topic Financial Fraud Component USAO - New York, Southern Press Release Number: 22-278
OCR text (4,453c · plain-text · 99% conf)
Press Release Queens Man Convicted Of Money Laundering And Bank Fraud Friday, September 2, 2022 Share FacebookLinks to other government and non-government sites will typically appear with the “external link” icon to indicate that you are leaving the Department of Justice website when you click the link. XLinks to other government and non-government sites will typically appear with the “external link” icon to indicate that you are leaving the Department of Justice website when you click the link. LinkedInLinks to other government and non-government sites will typically appear with the “external link” icon to indicate that you are leaving the Department of Justice website when you click the link. Email For Immediate Release U.S. Attorney's Office, Southern District of New York Djonibek Rahmankulov Laundered Millions of Dollars of Proceeds from Fraudulently Obtained COVID SBA Loans, Medicare and Medicaid Fraud, and Computer Hacking Damian Williams, the United States Attorney for the Southern District of New York, announced that a jury returned a guilty verdict against DJONIBEK RAHMANKULOV on counts of money laundering conspiracy, bank fraud, and conspiracy to operate an unlicensed money transmitting business. RAHMANKULOV is scheduled to be sentenced on January 5, 2023, by U.S. District Judge Ronnie Abrams. U.S. Attorney Damian Williams said: “Djonibek Rahmankulov exploited the United States financial system to launder millions of dollars of proceeds of fraud. He lied repeatedly to banks in furtherance of his illegal money laundering enterprise. Yesterday, a jury found Rahmankulov guilty of his crimes, and he faces the possibility of a lengthy prison sentence.” According to the superseding indictment and the evidence at trial: Between 2017 and September 2020, RAHMANKULOV operated a network of shell companies that were used to launder millions of dollars of criminal proceeds from multiple types of criminal activity. RAHMANKULOV worked with computer hackers who fraudulently gained control of the bank accounts of victims located throughout the United States and executed millions of dollars in fraudulent wire transfers into bank accounts opened by RAHMANKULOV and his co-conspirators. RAHMANKULOV received wire transfers into bank accounts he created and bank accounts he instructed others to create and laundered these proceeds through multiple additional bank accounts to prevent the victims and the banks from recovering the stolen funds. In addition, RAHMANKULOV worked with a network of pharmacies engaged in Medicare and Medicaid fraud. These pharmacies submitted millions of dollars of fraudulent billing for HIV medications that they did not dispense or obtained illegally, including by repurchasing medications from HIV patients who were Medicaid recipients. RAHMANKULOV created companies to receive these criminal proceeds from the pharmacies and laundered them through a variety of means, including by using them to fund an unlicensed money transmitting business that illegally moved money to and from multiple countries, including Iran. In 2020, when the COVID-19 pandemic began, RAHMANKULOV filed fraudulent applications for COVID relief loans from the Small Business Administration for multiple companies he controlled. He laundered the proceeds of loans and grants through these companies. RAHMANKULOV also made a number of materially false statements to financial institutions in connection with his money laundering schemes, both when opening bank accounts and when executing financial transactions with those bank accounts. * * * RAHMANKULOV, 34, of Queens, New York, was convicted on one count of money laundering conspiracy, which carries a maximum prison sentence of 20 years; one count of bank fraud, which carries a maximum prison sentence of 30 years; and one count of conspiracy to operate an unlicensed money transmitting business, which carries a maximum prison sentence of five years. Mr. Williams praised the outstanding investigative work of the Federal Bureau of Investigation’s New York Money Laundering Investigation Squad. The prosecution is being handled by the Office’s Money Laundering and Transnational Criminal Enterprises Unit. Assistant U.S. Attorneys Cecilia Vogel, Thane Rehn, and Samuel Raymond are in charge of the prosecution. Contact Nicholas Biase (212) 637-2600 Updated September 2, 2022 Topic Financial Fraud Component USAO - New York, Southern Press Release Number: 22-278