On December 11, 2024, a federal grand jury in Tucson returned an elder fraud indictment against Ahmed Maqbul Syed, 57, and Rupesh Chandra Chintakindi, 27, both citizens of India, for conspiracy to commit money laundering. Syed was also charged with conspiracy to commit wire fraud.
The indictment alleges that Syed, Chintakindi, and others conspired to launder fraudulent proceeds derived from schemes targeting elderly victims around the United States, including Arizona.
Generally, victims were lured into the schemes when they observed a “pop-up” display on their computer, indicating their computer had been hacked or there was another issue.
Victims were directed to contact “tech support” or “government representatives” to resolve the issue. In fact, victims were directed to other conspirators in the scheme who further convinced the victims that their accounts had been hacked and their information had been compromised, which was not true.
The conspirators then instructed the victims to withdraw or transfer money by telling them, for example, that they needed to protect their money and accounts.
Victims were directed to purchase gold from various gold dealers and to withdraw cash. They were then told that individuals purporting to be representatives of the government would retrieve the gold and cash from the victims.
Victims were also directed to purchase gift cards from various private businesses and transfer the gift card numbers to individuals they were led to believe would help them. At least one victim was also directed to make cash deposits into a bitcoin ATM.
Convictions for conspiracy to commit money laundering and conspiracy to commit wire fraud each carry a maximum penalty of 20 years in prison and a $250,000 fine.
Syed has been arrested on the charges, and the court has ordered him detained pending trial. An indictment is simply a method by which a person is charged with criminal activity and raises no inference of guilt.
An individual is presumed innocent until evidence is presented to a jury that establishes guilt beyond a reasonable doubt.
