Roseville Man Pleads Guilty to Money Laundering Conspiracy



On Tuesday, June 18, a Roseville, Calif. man entered a guilty plea at U.S. Federal Court in Sacramento to charges of conspiracy to commit money laundering,

According to court documents, between January 2021 and November 2021, Alex Altoh, 65, and his co-defendant Oumar Sidibe, 30, were involved in a conspiracy to launder the proceeds from two large business email compromise schemes, in which two corporate victims were tricked into making payments to bank accounts controlled by Altoh and another person, rather than to the intended beneficiaries of the payments.

Altoh, Sidibe, and others then quickly withdrew a large portion of the funds by way of check deposits, which effectively transferred the funds, concealed their unlawful nature, and prevented them from being clawed back. Law enforcement traced Altoh and Sidibe to about $3.9 million in laundered fraud proceeds.

Altoh agreed to pay restitution on an amount of at least $1,478,000. Sidibe is yet to be apprehended.

Altoh is scheduled to be sentenced by U.S. District Judge John A. Mendez on Sept. 24, 2024. Altoh faces a maximum statutory penalty of 20 years in prison and a fine of $500,000 or twice the value of the property involved in the money laundering conspiracy.





You may not like us, but here you are!
Follow us on Threads @ElkGroveNewsnet
Follow us on Twitter @ElkGroveNews
Follow us on Spoutible @ElkGroveNews
Follow us on YouTube @ElkGroveNews
Copyright by Elk Grove News © 2024. All rights reserved.

Related

Regional News 4742160263630399573

Post a Comment Default Comments

Follow Us

Popular

Archives

Elk Grove News Minute





All previous Elk Grove News Minutes, interviews, and Dan Schmitt's Ya' Gotta be Schmittin' Me podcasts are now available on iTunes

Elk Grove News Podcast




item