A Connecticut man has been sentenced in federal court for his involvement in a fraudulent scheme related to bank loans and money laundering. Hanibal Tayeh, 63, from Thomaston, Connecticut, received a sentence of 27 months in prison followed by five years of supervised release. This decision was handed down by U.S. District Court Judge Mark G. Mastroianni.

In August 2024, Tayeh pleaded guilty to multiple charges including two counts of bank fraud, four counts of wire fraud, three counts of money laundering, and one count of making a false bankruptcy declaration. The charges against Tayeh date back to July 2018 when he was initially charged and arrested.

The fraudulent activities occurred during 2013 and 2014 when Tayeh used falsified documents to secure a $9.1 million loan package and later an additional $400,000 extension of credit from a bank. He claimed these funds were for business ventures in Saudi Arabia. Furthermore, he defrauded an individual through misrepresentations about construction projects purportedly taking place in Saudi Arabia. The proceeds from these schemes were laundered through payments made to third parties for personal obligations. Additionally, Tayeh falsely denied knowledge of a fabricated letter of credit during a bankruptcy proceeding.

The announcement was made by United States Attorney Joshua S. Levy; Jodi Cohen, Special Agent in Charge of the Federal Bureau of Investigation's Boston Division; and Thomas Demeo, Acting Special Agent in Charge at the Internal Revenue Service Criminal Investigation's Boston Field Office. The case was prosecuted by Assistant U.S. Attorney Christopher L. Morgan from the Springfield Branch Office.