Damian Williams, the United States Attorney for the Southern District of New York, announced that a jury returned a guilty verdict today against SURESH MUNSHANI on charges of conspiracy to commit wire fraud and conspiracy to commit money laundering. MUNSHANI is scheduled to be sentenced on May 10, 2023, by U.S. District Judge Jed S. Rakoff, who presided over the one-week trial.
U.S. Attorney Damian Williams said: “Suresh Munshani and his brother thought they could get away with stealing nearly $1 million from his brother’s employer and laundering that money through a Canadian bank account, but today’s jury verdict shows that this Office will continue to follow the dirty money to bring those responsible for financial crimes to justice.”
According to the Superseding Indictment and the evidence presented at trial:
Between 2011 and 2018, SURESH MUNSHANI conspired with his brother, Suni Munshani, to steal from the victim company (the “Company”) and to launder the stolen funds back to his brother. During the relevant period, Suni Munshani was the Chief Executive Officer (“CEO”) of the Company, which provided data security services to its clients. In furtherance of the scheme, SURESH MUNSHANI, among other things, formed a fake company, added the name of that fake company to a bank account he controlled in Canada, lied to his bank about how he was using his account, and worked with his brother to deposit into that account approximately $860,000 stolen from the Victim Company. SURESH MUNSHANI thereafter laundered the majority of the stolen money back to a bank account controlled by Suni Munshani and kept approximately $150,000 of the stolen funds for himself.
Suni Munshani previously pled guilty to one count of conspiracy to commit wire fraud in connection with his involvement in the scheme.
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SURESH MUNSHANI, 58, of New York, New York, was convicted of one count of wire fraud conspiracy and one count of money laundering conspiracy. Each count carries a maximum sentence of 20 years in prison.
The maximum potential sentences in this case are prescribed by Congress and are provided here for informational purposes only, as any sentencing of the defendant will be determined by the judge.
Mr. Williams praised the outstanding investigative work of the Federal Bureau of Investigation’s New York Office for their assistance.
This case is being handled by the Office’s Complex Frauds and Cybercrime Unit. Assistant U.S. Attorneys Timothy V. Capozzi and Steven J. Kochevar, with the assistance of Paralegal Specialist Geoffrey Mearns, are in charge of the prosecution.
originally published at HUMAN RIGHTS - USA DAILY NEWS 24