Indian sentenced to 18 years in US for multimillion-dollar elder fraud and money laundering

Highlights:

• Indian national laundered more than $6.6 million stolen from elderly victims

• Indian-led scheme persuaded seniors to liquidate retirement savings

• Fraud linked to India operated across multiple US states

• Indian courier arrested following coordinated undercover operation

  - Advertisement -

• Case investigated by FBI, IRS-CI, and local police

A federal court in Florida has sentenced a 23-year-old Indian national to 18 years in prison for his role in an international fraud and money laundering scheme that targeted elderly Americans and drained millions of dollars from their savings, US prosecutors said.

Atharva Shailesh Sathawane, an Indian citizen, was convicted by a jury of conspiracy to commit wire fraud and conspiracy to commit money laundering, according to the US Attorney’s Office for the Northern District of Florida. The sentence was announced on Monday (26) by US Attorney John P. Heekin.

Indian elder fraud scheme targeted vulnerable US seniors

Prosecutors said the Indian national played a central role as a courier in a complex elder fraud operation that exploited fear and financial insecurity among senior citizens. Victims were convinced that their money was at risk and were persuaded to liquidate retirement accounts, convert assets into cash or gold, and hand those assets over for supposed safekeeping.

According to court records, Sathawane personally collected cash and gold from elderly victims and delivered the assets to co-conspirators connected to the broader Indian fraud network. The scheme resulted in widespread financial losses, leaving some victims without their life savings.

Indian national traveled across multiple US states to collect funds

Evidence presented at trial showed that the Indian national had overstayed his student visa and was in the United States illegally at the time of the crimes. Over a four-month period, he traveled extensively to retrieve fraudulently obtained assets from elderly victims.

Prosecutors said Sathawane made at least 33 trips to collect cash and gold from victims in Florida and other states, including Pennsylvania, Virginia, New Jersey, and New York. These repeated trips demonstrated a systematic effort to move stolen assets quickly and avoid detection.

Indian courier laundered $6.6 million in cash and gold

In total, Sathawane personally took and laundered approximately $6.6 million in cash and gold, according to prosecutors. Authorities also said he attempted to obtain an additional $1.36 million in gold from two elderly victims.

Those efforts failed after a concerned friend intervened in one case and law enforcement stopped the transaction in another. Prosecutors noted that early reporting by victims and those around them played a critical role in preventing further losses.

Indian fraud operation exposed through undercover investigation

The investigation escalated after one elderly victim became suspicious and contacted authorities. Law enforcement then coordinated an undercover operation that led to Sathawane’s arrest when he arrived at the victim’s residence to collect more gold.

Following the arrest, a forensic examination of the Indian national’s cellphone revealed extensive communications connecting him to the wider fraud operation. Investigators found evidence linking him to individuals coordinating the scheme from India, confirming the international scope of the elder fraud network.

Indian-linked fraud caused severe financial harm

Prosecutors said many elderly victims lost their entire life savings or suffered serious financial hardship as a result of the Indian fraud scheme. The losses affected retirees who depended on fixed incomes and had limited means to recover financially.

US Attorney Heekin highlighted the impact of elder fraud in states with large senior populations, particularly Florida. He emphasized the importance of holding those responsible accountable and acknowledged the role of victims who came forward despite personal hardship.

Indian elder fraud cases remain a growing concern in the US

Local, state, and federal officials stressed that elder fraud involving Indian and other international networks remains a significant concern. Gainesville Police Chief Nelson Moya said authorities would not tolerate criminals who exploit vulnerable citizens.

FBI Jacksonville Special Agent in Charge Jason Carley warned that gold bar scams are an increasing trend nationwide. He noted that Florida victims alone lost more than $33 million to similar fraud schemes last year, underscoring the scale of the problem.

Indian fraud case investigated by multiple agencies

The case was jointly investigated by the Gainesville Police Department, the Federal Bureau of Investigation, and IRS Criminal Investigation. It was prosecuted by Assistant US Attorney Adam Hapner.

Federal officials urged seniors, caregivers, and family members to remain alert to signs of fraud and to report suspicious activity as soon as possible. Authorities said early reporting can help stop ongoing schemes, limit losses, and support recovery efforts for victims.

The sentencing of the Indian national marks a significant outcome in efforts to disrupt international elder fraud operations that target American seniors and move illicit proceeds across borders.