Crimes against Business

532 Words Feb 25th, 2018 2 Pages
On May 19th 2014, a Brooklyn, N.Y., man was sentenced to state prison for orchestrating a bank fraud system with at least two defendants. The defendants in this case were found to be impersonating people to whom are holders of legitimate business bank accounts. In their scheme, they were able to steal more than half a million dollars. The New York authorities sentenced Nurlin Wright, the 35 year old Brooklyn, NY and two other defendants to racketeering and conspiracy. Racketeering as a federal crime may come with some very hefty penalties, and especially used in major organized crimes cases. “Racketeering is the federal crime of conspiring to organize to commit crimes, especially on an ongoing basis as part of an organized crime operation.” The Acting Attorney, General Hoffman said in this article, “This was a huge bank fraud scheme in which the defendants attempted to use the casinos to launder the stolen funds. This case highlights the ever-present threat of identity theft and the need for financial institutions, banking clients and law enforcement to remain extremely vigilant.” In this case, the criminals used techniques such as money laundering to try to hide their illegal activities. According to INTERPOL, money laundering is defined as “any act or attempted act to conceal or disguise the…

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