LAKEWOOD – A Township man has pleaded guilty to a charge of money laundering involving an illegal wire fraud scheme, state officials said.
Eli Schamovic, 41, of Lakewood, made “several fraudulent financial transactions through at least two entities that Schamovic formed and established as merchants that used multiple credit card processing companies,” police said.
Officials said the transactions totaled more than $1 million in losses to a multinational financial services corporation that specialized in payment cards.
Additionally, Schamovic laundered portions of the proceeds of this scheme, including through an estimated $500,000 wire transfer from a bank account under his control.
Schamovic faces a maximum 10 years in prison and a fine of $250,000, or twice the gross profits or gross loss suffered by the victims, whichever is greatest. His sentencing is scheduled for September 8.
U.S. Attorney Philip R. Sellinger credited postal inspectors with the U.S. Postal Inspection Service in Newark, under the direction of Inspector in Charge Christopher A. Nielsen, Philadelphia Division; special agents of the FBI, under the direction of Special Agent in Charge James E. Dennehy in Newark, and special agents of IRS-Criminal Investigation, under the direction of Special Agent in Charge Tammy Tomlins in Newark, with the investigation leading to the guilty plea.
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