Damian Williams, the USA Lawyer for the Southern District of New York, introduced {that a} jury returned a responsible verdict right this moment towards SURESH MUNSHANI on prices of conspiracy to commit wire fraud and conspiracy to commit cash laundering. MUNSHANI is scheduled to be sentenced on Could 10, 2023, by U.S. District Choose Jed S. Rakoff, who presided over the one-week trial.
U.S. Lawyer Damian Williams mentioned: “Suresh Munshani and his brother thought they may get away with stealing practically $1 million from his brother’s employer and laundering that cash by way of a Canadian checking account, however right this moment’s jury verdict reveals that this Workplace will proceed to comply with the soiled cash to carry these answerable for monetary crimes to justice.”
In keeping with the Superseding Indictment and the proof introduced at trial:
Between 2011 and 2018, SURESH MUNSHANI conspired together with his brother, Suni Munshani, to steal from the sufferer firm (the “Firm”) and to launder the stolen funds again to his brother. Throughout the related interval, Suni Munshani was the Chief Govt Officer (“CEO”) of the Firm, which offered knowledge safety companies to its shoppers. In furtherance of the scheme, SURESH MUNSHANI, amongst different issues, fashioned a faux firm, added the title of that faux firm to a checking account he managed in Canada, lied to his financial institution about how he was utilizing his account, and labored together with his brother to deposit into that account roughly $860,000 stolen from the Sufferer Firm. SURESH MUNSHANI thereafter laundered nearly all of the stolen a refund to a checking account managed by Suni Munshani and stored roughly $150,000 of the stolen funds for himself.
Suni Munshani beforehand pled responsible to at least one depend of conspiracy to commit wire fraud in connection together with his involvement within the scheme.
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SURESH MUNSHANI, 58, of New York, New York, was convicted of 1 depend of wire fraud conspiracy and one depend of cash laundering conspiracy. Every depend carries a most sentence of 20 years in jail.
The utmost potential sentences on this case are prescribed by Congress and are offered right here for informational functions solely, as any sentencing of the defendant will probably be decided by the choose.
Mr. Williams praised the excellent investigative work of the Federal Bureau of Investigation’s New York Workplace for his or her help.
This case is being dealt with by the Workplace’s Complicated Frauds and Cybercrime Unit. Assistant U.S. Attorneys Timothy V. Capozzi and Steven J. Kochevar, with the help of Paralegal Specialist Geoffrey Mearns, are accountable for the prosecution.
