Ocean County Man Admits Money Laundering
Tuesday, May 2, 2023
For Immediate Release
U.S. Attorney’s Office, District of New Jersey
NEWARK, N.J. – An Ocean County, New Jersey, man today admitted that he illegally laundered the proceeds of a wire fraud scheme, U.S. Attorney Philip R. Sellinger announced.
Eli Schamovic, 41, of Lakewood, New Jersey, pleaded guilty before U.S. District Judge Kevin McNulty to an information charging him with money laundering.
According to documents filed in the case and statements made in court:
Schamovic made or caused others to make numerous fraudulent financial transactions through at least two entities that Schamovic formed and established as merchants that used multiple credit card processing companies. These transactions resulted in more than $1 million in losses to a multinational financial services corporation that specialized in payment cards. Schamovic laundered portions of the proceeds of this scheme, including through an approximately $500,000 wire transfer from a bank account under his control.
The charge of money laundering is punishable by a maximum potential penalty of 10 years in prison and a fine $250,000, or twice the gross profits or gross loss suffered by the victims, whichever is greatest. Sentencing is scheduled for Sept. 8, 2023.
U.S. Attorney Sellinger credited postal inspectors with the U.S. Postal Inspection Service in Newark, under the direction of Inspector in Charge Christopher A. Nielsen, Philadelphia Division; special agents of the FBI, under the direction of Special Agent in Charge James E. Dennehy in Newark, and special agents of IRS-Criminal Investigation, under the direction of Special Agent in Charge Tammy Tomlins in Newark, with the investigation leading to the guilty plea.
The government is represented by Assistant U.S. Attorney Andrew Kogan of the U.S. Attorney’s Office Cybercrime Unit in Newark.U.S. Department of Justice Press Release
Categories: Anti-Money Laundering Department of Justice (DOJ) Updates Enforcement Actions Fraud Pleas and Verdicts Wire Fraud
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