A complex bank fraud and money laundering operation spanning multiple states and even reaching into Canada has been uncovered, leading to the indictment of four individuals.
United States Attorney Roger B. Handberg announced the unsealing of an indictment charging Daniel Liburdi, 35, of Miami; Joseph Scotto, 44, of Bay Shore, NY; Gregory Walker, 43, of Ontario, Canada; and Frank Carbone III, 35, of Orlando, with conspiracy to commit bank fraud and conspiracy to commit money laundering. Liburdi and Carbone are also facing individual charges of bank fraud.
According to the indictment, the defendants conspired to defraud U.S. financial institutions by submitting fraudulent applications to obtain merchant processing accounts.
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These applications contained the stolen personal information of unsuspecting individuals, allowing the conspirators to operate an e-commerce business using high-risk and deceptive sales tactics.
By exploiting the identities of others, the defendants shielded themselves from liability and financial risk, ultimately generating over $128 million in criminal proceeds through the fraudulent accounts.
The indictment also alleges that the defendants conspired to launder the proceeds of their illegal activities. They allegedly used the funds to pay for services that promoted their scheme, such as advertising, and moved the money between conspirator-controlled bank accounts.
If convicted, the defendants face substantial prison sentences. Each bank fraud and conspiracy to commit bank fraud charge carries a maximum penalty of 30 years in federal prison, while the conspiracy to commit money laundering charge carries a maximum of 20 years.
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The government is seeking the forfeiture of three residences in Miami Beach, one in the U.S. Virgin Islands, and an additional $128,144,908.66 in criminal proceeds.
This case highlights the collaborative efforts of multiple law enforcement agencies, including:
- Homeland Security Investigations (HSI) in Tampa, Miami, and New York
- Internal Revenue Service – Criminal Investigation (IRS-CI) in Tampa, Miami, and New York
- Pasco Sheriff’s Office
Assistant United States Attorney Adam J. Duso will prosecute the case.
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