An Indianapolis business owner has been arrested and charged with participating in a scheme that defrauded investors from more than 20 countries out of at least $7 million.
Tochukwu Nwosisi, 47, owner of used car dealership Indyrides LLC, 4510 W. Washington St., was charged with one count of conspiracy to launder monetary instruments and one count of concealment money laundering. He made his initial appearance Thursday in U.S. District Court in Indianapolis.
Investigators from the U.S. Department of Justice say Nwosisi laundered proceeds from the scheme through his dealership.
Five other individuals from outside of Indiana were previously indicted in the case in February. Investigators say some of the individuals falsely portrayed themselves as agents of New York-based JPMorgan Chase and North Carolina-based Branch Banking & Trust Corp. to make fraudulent investment deals.
Uju Okigbo, 48, and Chioma Okafor, 28, both of Houston, were each charged with conspiracy to commit wire fraud, conspiracy to launder monetary instruments, wire fraud and money laundering. Okigbo was also charged with engaging in transactions with proceeds of specified unlawful activity and aggravated identity theft.
Read the original article here: ibj.com
Get headlines, breaking news, and jobs announcements delivered to your inbox. Sign up for our daily newsletter.