Discover and read the best of Twitter Threads about #8CountsOfWireFraud

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South Florida Resident Convicted of #100Million #InternationalFraudScheme that Led to #Collapse of One of #PuertoRico’s Largest Banks
justice.gov/opa/pr/south-f…
Jack Kachkar, 55, was also #convicted of #8CountsOfWireFraud a #3MillionScheme to defraud #MellonUnitedNationalBank of Miami (Mellon Bank).

He engineered a #MassiveFraudScheme that led directly to the #failure of a major #PuertoRicanBank with more than 1,500 employees.
During the course of the scheme, #Kachkar caused #Westernbank to lend approximately #142Million, primarily based on #false and #fraudulent customer invoices. The evidence showed that the defendant diverted 10s of millions of dollars for his own #PersonalBenefit
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