Baltimore, Maryland – U.S. District Judge Richard D. Bennett sentenced Erwin Boateng, age 32, of Glen Burnie, Maryland, to 42 months in federal prison, followed by three years of supervised release, for conspiracy to commit bank fraud in connection with a scheme in which the conspirators opened bank accounts using the stolen personal identifying information of other individuals, transferred or deposited funds obtained using stolen or altered checks, then quickly withdrew the funds. Judge Bennett ordered Boateng to forfeit $24,758.79.
The sentence was announced by United States Attorney for the District of Maryland Erek L. Barron and Special Agent in Charge James R. Mancuso of Homeland Security Investigations (HSI) Baltimore.
According to Boateng’s plea agreement, from September 1, 2015, through June 28, 2016, Boateng and others opened more than three dozen bank accounts using the stolen personal identifying information of other individuals or in the names of businesses. Boateng and his co-conspirators fraudulently transferred funds or deposited stolen and altered checks, then quickly transferred the fraudulently obtained funds to other accounts or withdrew the funds in cash. The total intended loss was approximately $374,076.90 and the amount successfully withdrawn was $188,176.24.
For example, on November 6, 2015, at the direction of a co-conspirator, Boateng opened a savings and a checking account at the Greenbelt, Maryland branch of a credit union, identifying himself as the brother of identity theft victim M.H., whom Boateng claimed was sponsoring his credit union membership. On November 12, 2015, Boateng and others caused a fraudulent ACH credit in the amount of $31,343.12 to be deposited into Boateng’s checking account. Boateng then withdrew $4,500 in cash and $10,000 in the form of a cashier’s check payable to Erwin Boateng from the account.
As detailed in the plea agreement, the illegally obtained proceeds from the fraudulent transactions were split between the co-conspirators.
Boateng pleaded guilty to the bank fraud conspiracy in September 2019, but subsequently engaged in a second fraud scheme, while on pre-trial release. Specifically, according to information provided during today’s sentencing hearing, Boateng attempted to open an investment account utilizing a fraudulent $9 billion “Secured Funding Bond.” Boateng represented that he wanted to deposit the bond in an investment account as collateral for a $500 million loan from the investment firm. The loan was to be used to finance “economic development in Africa” through Boateng’s Spherepoint International Group. The investment firm determined the documents were fraudulent and did not open any accounts. An individual who was attempting to assist Boateng was notified and she, in turn, notified law enforcement.
In addition to Boateng, four other co-conspirators pleaded guilty to their roles in the fraud scheme. David Livingston Attoh, age 34, a citizen of Ghana residing in Laurel, Maryland, was sentenced to three years in federal prison; Kabir Tunji Are, age 43, a Nigerian citizen residing in Silver Spring, Maryland, was sentenced to 13 months in federal prison; Kwaku Boateng Blay, age 38, a citizen of Ghana residing in Beltsville, Maryland, was sentenced to 21 months in federal prison; and Franck Ulrich Noche Nsiyabuze, age 31, of Laurel, Maryland, was sentenced to 18 months in federal prison.
United States Attorney Erek L. Barron praised the HSI for its work in the investigation. Mr. Barron thanked Assistant U.S. Attorneys Judson T. Mihok and Mary W. Setzer, who prosecuted the case.
For more information on the Maryland U.S. Attorney’s Office, its priorities, and resources available to help the community, please visit www.justice.gov/usao-md and https://www.justice.gov/usao-md/community-outreach.
# # #
Information for Victims of 1st Million Dollars, LLC
United States v. Dennis Jali, et al.
Community Outreach
