Mr. Alhassan Iddris Lari’s indictment says he had hidden cash in a Bronx bank account between 2014 & 2020. Mr. Lari apparently maintained this bank account in the name of a shipping company which was just a shell company. A press release from the IRS about Mr. Lari claims the hidden cash totaled $1.5 million. The press release alleges the cash was criminal proceeds from online romance scams &/or other e-mail scams.
Mr. Lari is thought to have wire transferred the $1.5 million out of the Bronx to criminals located in the Republic of Ghana. The press release suggests as part of Mr. Lari’s scheme to hide cash, Mr. Lari ran an unlicensed money transmitting business in the Bronx. Based upon all of the foregoing Mr. Lari is believed to have hidden the $1.5 million by employing the following asset concealment tools:
- a nominee bank account maintained in the name of a shipping company which was a shell company;
- laundering money through multiple jurisdictions (i.e. the Bronx and the Republic of Ghana);
- & an informal value transfer systyem / informal banking system via an unlawful money transmitting business in the Bronx.
On February 3, 2021 Mr. Lari pleaded guilty to conspiracy to commit money laundering and operating an illegal money transmitting business. Mr. Lari faces a maximum of 10 years in prison for the money laundering conspiracy and up to 5 years in prison for operating an illegal money transmitting business. According to Mr. Lari’s docket report, the Court will next sentence Mr. Lari in Manhattan on June 16, 2021.
Copyright 2021 Fred L. Abrams