MIDDLETOWN, NJ – Andrew Suarez, 29, of Middletown, has been arrested and charged by the federal government for money laundering in an international scheme to defraud, based out of South Africa.
Known as Black Axe, the syndicate operates out of Cape Town, South Africa, and is responsible for multiple, widespread cases of internet-based fraud.
“Suarez opened up bank accounts in the United States, which were then used to conceal money obtained through business email compromises and other fraud schemes,” said U.S. Attorney Philip Sellinger. “Suarez transferred the proceeds of the fraud schemes to other U.S. bank accounts and wired proceeds to bank accounts in Cape Town, South Africa. To avoid detection, Suarez changed the information on some of his bank accounts, so the accounts listed the name and address of a victim.”
Suarez was charged with money laundering conspiracy, substantive money laundering counts, and aggravated identity theft.
Each count carries a $500,000 fine and a mandatory two year prison sentence if convicted.
