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Nationwide Elderly Fraud Conspiracy Used Range of Money Laundering Schemes

By Daniel Bethencourt

A mail-fraud ring based in Canada extracted more than $180 million from elderly and vulnerable victims across the United States over two decades, according to federal prosecutors, and used overseas banks and shell companies to launder and stash the funds. The conspiracy, details of which emerged Mar. 7, involved only a handful of the more than 260 people recently charged as part of a nationwide federal sweep against criminals who exploit senior citizens and other vulnerable individuals. The alleged schemes together targeted 2 million victims and caused more than $750 million in losses, according to the Justice Department. Prosecutors also...

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