A federal grand jury has indicted Ankurkumar Patel, 41, of Brookfield, Wisconsin, on charges of money laundering conspiracy and substantive money laundering. The indictment was announced by Richard G. Frohling, Acting United States Attorney for the Eastern District of Wisconsin.
According to the indictment, Patel is accused of conspiring with others to launder more than $1 million obtained from elderly victims across several states. One victim in Sheboygan, Wisconsin, reportedly lost funds through a “Phantom Hacker Scam.” In this type of fraud scheme, perpetrators often target older adults by posing as customer service agents from companies or government agencies. They claim that the victim’s identity or bank account has been compromised and then refer the victim to another conspirator impersonating a law enforcement agent. The victim is then instructed to transfer their funds—often cash or gold—to accounts supposedly controlled by third parties or government entities for safekeeping. The indictment alleges that Patel personally collected over $1 million from victims and worked with others to distribute the money through anonymous transactions.
If convicted on the charge of money laundering conspiracy, Patel faces up to 20 years in prison and a fine up to $500,000 or twice the value involved in the offense. A conviction for substantive money laundering could result in up to 10 years’ imprisonment and a fine up to $250,000 or twice the amount laundered.
Anyone who believes they may have been targeted by similar scams is encouraged to contact the FBI at 414-276-4684.
The investigation was conducted by the FBI in Milwaukee and Homeland Security Investigations in St. Louis. Assistant United States Attorney Peter J. Smyczek will prosecute the case.
Authorities remind that an indictment is only an accusation; Patel is presumed innocent until proven guilty beyond a reasonable doubt.
