Ahmed Alabadi Arrested on an Indictment Alleging Bank Fraud, Attempted Bank Fraud, and Money Laundering

The Federal Bureau of Investigation (FBI) on February 6, 2012 released the following:

“Defendant Charged with Investor Fraud Who Fled to Middle East is Arrested

AHMED ALABADI, a 44-year-old citizen of Iraq and former resident of Dearborn, was arrested at Detroit Metropolitan Wayne County Airport on the evening of Friday February 3, 2012, announced United States Attorney Barbara McQuade. Alabadi was arrested on an indictment for bank fraud, attempted bank fraud, and money laundering. McQuade was joined in the announcement by Special Agent Andrew G. Arena, Federal Bureau of Investigation and Brian Moskowitz, Special Agent in Charge, U.S. Immigration and Customs Enforcement, Office of Homeland Security Investigations in Detroit.

The indictment alleges that Alabadi solicited investments from individuals, many of Iraqi descent, by promising that the funds would be used in various rebuilding projects in Iraq. Alabadi promised large returns for the investments. In reality, however, Alabadi did not use the investors’ money for such projects. Instead, he operated a Ponzi scheme by using money from subsequent investors to pay earlier investors. Alabadi fled to the Middle East as investors began discovering the fraud.

An indictment is only a charge and is not evidence of guilt. It will be the government’s burden to prove guilt beyond a reasonable doubt.

The case is being prosecuted by Assistant United States Attorney Louis P. Gabel.

If any individual believes that he or she was a victim of Alabadi’s fraud they should contact Special Agent Philip Reed of the FBI at (313) 965-2323.”

————————————————————–

Douglas McNabb – McNabb Associates, P.C.’s
Federal Criminal Defense Attorneys Videos:

Federal Crimes – Be Careful

Federal Crimes – Be Proactive

Federal Crimes – Federal Indictment

Federal Crimes – Detention Hearing

————————————————————–

To find additional federal criminal news, please read Federal Crimes Watch Daily.

Douglas McNabb and other members of the U.S. law firm practice and write and/or report extensively on matters involving Federal Criminal Defense, INTERPOL Red Notice Removal, International Extradition and OFAC SDN Sanctions Removal.

The author of this blog is Douglas McNabb. Please feel free to contact him directly at mcnabb@mcnabbassociates.com or at one of the offices listed above.

Comments are closed.