Michele Beckwith Acting U.S. Attorney | U.S. Attorney for the Eastern District of California
A 17-count indictment has been unsealed against Ayman Alaaraj and Ahmad Nassar, as announced by Acting U.S. Attorney Michele Beckwith. The two men are charged with bank fraud and aggravated identity theft, while Nassar also faces charges of access device fraud.
Nassar, previously convicted in 2019 for possessing access devices unlawfully and other offenses, was released from prison in March 2021. He is currently in custody for allegedly violating supervised release terms after being arrested on February 7, 2024. Alaaraj has been ordered to self-surrender.
Court documents reveal that in May 2023, Nassar took control of multiple bank accounts belonging to elderly victims at different banks using sophisticated methods like phone number porting to bypass dual-factor authentication. This allowed him to drain the accounts with assistance from Alaaraj, resulting in over $794,000 in losses.
The stolen funds were funneled through pass-through accounts created by Nassar under the victims' names and through Alaaraj’s businesses—Balance Bookkeeping, Tax and Notary, and Atheer Investments. The money was then withdrawn via ATM cash withdrawals, personal checks, Western Union transactions, Zelle transactions, credit card payments, online gambling activities, and purchasing a Mercedes.
The investigation was conducted by the Federal Bureau of Investigation and the California Department of Justice – Bureau of Gambling Control. Assistant U.S. Attorney Elliot C. Wong is handling the prosecution.
If found guilty, both defendants face up to 30 years in prison for each count of bank fraud along with fines. They also face mandatory imprisonment terms for aggravated identity theft counts with additional penalties for access device fraud applicable to Nassar.
Sentencing will be determined based on statutory factors and Federal Sentencing Guidelines once guilt is established beyond a reasonable doubt.
