Two men living in Southern California were arrested this week for allegedly running a $10 million financial fraud scheme that targeted more than 100 victims, many of whom were elderly.
Sylas Nyuydzene Verdzekov, 38, of Chino Hills, and Lovert Che, 44, of Lomita, were each taken into federal custody. A third defendant, Mustapha Nkachiwouo Selly Yamie, 29, of Inglewood was being sought by law enforcement, according to the U.S. Attorney’s Office.
Each defendant is charged with one federal count of conspiracy to commit money laundering.
“As the indictment alleges, these defendants built a sophisticated fraud and money laundering scheme that targeted and preyed on our most vulnerable citizens,” Acting U.S. Attorney Joseph T. McNally said in a statement.
“They not only stole the victims’ money, but robbed them of their security and trust. Let this serve as a clear message: If you defraud members of our community, especially the elderly, we will hold you accountable to the fullest extent of the law.”
According to the indictment, from at least November 2021 and continuing to the present, Verdzekov, Yamie and Che, and associates, created fake identification documents of fictitious people, including passports and driver’s licenses. Using the fake documents, the defendants invented at least 36 shell companies in California, which conducted no legitimate business and were created solely to advance their crimes, prosecutors contend.
Verdzekov, Yamie and Che allegedly opened at least 145 bank accounts and at least 32 private mailboxes across Southern California using the fake identities and sham businesses, according to the U.S. Attorney’s Office.
In one scheme specifically targeting elderly victims using phone calls and email pop-ups, the defendants and others posed as law enforcement personnel or employees with well-known companies attempting to help the victims maintain the security of their accounts, court papers allege.
They then allegedly fabricated claims of victim bank accounts or payment accounts being compromised and needing to be resolved quickly. Victims were told they needed to move money from their “corrupted” accounts quickly to ensure they kept all their money, and to move it into accounts that Verdzekov, Yamie and Che fraudulently opened and controlled, federal prosecutors allege.
In a similar scam, the defendants allegedly posed as a real estate owner selling property. Using fake identification and credentials, the defendants allegedly deceived victims into believing that they were entering into a legitimate sale of the property and tricked the victims into wiring money or mailing a check to an account or mailbox the defendants and their co-conspirators controlled, according to the indictment.
In total, Verdzekov, Yamie and Che, and their co-conspirators, laundered at least $10 million in funds taken from at least 100 victims, prosecutors allege.
If convicted, the defendants would each face up to 20 years in federal prison, the U.S. Attorney’s Office stated.
