NEWARK, N.J. — A New York man has admitted to participating in a wire fraud conspiracy that led to more than $2 million in losses, U.S. Attorney Philip R. Sellinger announced Monday.
Terrell Fuller, 34, of Baldwin, New York, pleaded guilty in Newark federal court before U.S. District Court Judge Stanley R. Chesler to one count of wire fraud conspiracy.
According to court documents and statements made during the proceeding, Fuller and his co-conspirators submitted a fraudulent application to the Small Business Administration (SBA), securing approximately $1.2 million in funds. Additionally, they opened bank accounts under various names, deposited illegally obtained or fraudulent checks, and withdrew or attempted to withdraw the funds. Fuller also used stolen personal identifying information to rent properties in New York, accruing over $400,000 in unpaid rent and fees.
In total, Fuller and his conspirators obtained more than $2 million through their fraudulent activities.
The wire fraud conspiracy charge carries a maximum penalty of 20 years in prison and a fine of $250,000 or twice the value of the funds involved in the scheme, whichever is greater. Sentencing is scheduled for Feb. 5, 2025.
The FBI and IRS-Criminal Investigation conducted the investigation leading to Fuller’s guilty plea, with Assistant U.S. Attorney Andrew Kogan handling the prosecution.
