A Minnesota man has pleaded guilty to wire fraud after orchestrating a scheme that defrauded a California electronics manufacturing company out of more than $1.2 million, U.S. Attorney Andrew M. Luger announced.
Thomas Thanh Pham, 53, of Burnsville, admitted in U.S. District Court on January 3, 2025, to one count of wire fraud. Pham, who was the CEO of Enterprise Products, LLC, presented himself as a broker capable of facilitating lucrative contracts between the electronics company, referred to in court as Victim A, and prominent technology firms.
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According to court documents, Pham’s scheme unfolded between 2019 and 2020. Claiming to provide consulting and financial services to engineering and manufacturing businesses, Pham convinced Victim A, a San Jose-based electronic manufacturing services company, that he could secure multi-million-dollar service agreements on their behalf.
Pham provided fabricated documents, including fake contracts, correspondence, and business proposals, to convince Victim A of his legitimacy. In September 2019, he persuaded Victim A to enter into a contract that required an upfront “deposit bond” of $1,278,000, promising substantial financial returns in exchange for repair services.
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To further the ruse, Pham delivered 20 electronic devices to Victim A in California, claiming they required repairs. However, these devices were later discovered to be stolen property. Pham also used various excuses and reassurances to delay Victim A’s requests for updates or refunds, all while misappropriating the funds for unauthorized purposes.
On Friday, January 3, Pham pleaded guilty before U.S. District Judge Joan N. Ericksen. The charge of wire fraud carries severe penalties, including potential imprisonment and restitution to the victims.
Pham’s sentencing hearing has yet to be scheduled. He faces a maximum statutory penalty of 20 years in federal prison, though his final sentence will be determined by the court based on federal sentencing guidelines.
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