A federal grand jury in Arizona has indicted two Indian nationals, Ahmed Maqbul Syed, 57, and Rupesh Chandra Chintakindi, 27, on charges related to an alleged elder fraud scheme and money laundering conspiracy.
The indictment, announced on December 11, 2024, includes charges of Conspiracy to Commit Money Laundering against both men, with an additional charge of Conspiracy to Commit Wire Fraud against Syed.
According to the indictment, the defendants and their co-conspirators orchestrated a complex scheme targeting elderly victims across the United States, including Arizona.
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Victims were misled by fraudulent “pop-up” messages on their computers, falsely claiming their systems had been hacked or compromised. These messages instructed victims to contact purported “tech support” or “government representatives,” who were actually part of the scheme.
Once in contact, victims were convinced their financial accounts had been hacked. To “protect” their money, victims were directed to withdraw funds, purchase gold or gift cards, and, in some cases, deposit cash into bitcoin ATMs. These fraudulent directives were part of an elaborate ruse designed to steal the victims’ savings.
The indictment alleges that Syed, Chintakindi, and others laundered the fraudulent proceeds, including cash, gold, and gift card information. Conspirators posed as government representatives to collect the victims’ gold and cash, while gift card numbers were sent to individuals who purported to offer help. The scheme resulted in significant financial losses for elderly victims.
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If convicted, both charges—Conspiracy to Commit Money Laundering and Conspiracy to Commit Wire Fraud—carry maximum penalties of 20 years in prison and fines of up to $250,000 each. Syed has been arrested and is being held in custody pending trial.
An indictment is not proof of guilt; all defendants are presumed innocent until proven guilty in court.
The Federal Bureau of Investigation’s Indianapolis and Phoenix Divisions led the investigation, with assistance from the Marana Police Department and law enforcement agencies in Arizona, Illinois, Wisconsin, Texas, and Indiana. The case is being prosecuted by the United States Attorney’s Office for the District of Arizona, based in Tucson.
This case highlights the growing threat of elder fraud, which preys on some of the most vulnerable members of society. Federal authorities urge individuals to remain vigilant and report any suspected scams to local law enforcement or the FBI.
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