A US District Court has sentenced two Indian nationals to 41 months in prison for committing wire fraud and illegally obtaining $1.2 million from victims across the United States.

A US District Court has sentenced two Indian nationals to 41 months in prison for committing wire fraud and illegally obtaining $1.2 million from victims across the United States. According to US Attorney Philip R. Selliger, Arushobike Mitra, 29, and Garbita Mitra, 25, were found guilty before US District Judge Esther Salas on one count of conspiracy to commit wire fraud. "These defendants and their conspirators preyed upon some of our most vulnerable citizens, using trickery and threats to coerce them into sending money," Sellinger said at the Newark federal court on Tuesday. The US attorney added, "Protecting our elderly population from these kinds of deceitful robocall scams is a priority of our office. Those who engage in this kind of elder fraud scheme can expect to face justice." He also credited several US government agencies for investigating the case. In addition to the prison terms, Judge Salas sentenced Arushobike Mitra and Garbita Mitra to three years of supervised release. The bench also ordered them to pay $835,324 in restitution. ALSO READ | Anxiety builds among Indian students and residents going to Canada as relations deteriorate The court documented the case as an international fraud scheme where India-based scam centres used automated robocalls to contact victims across the United States with the intent of defrauding them, particularly senior citizens, reported PTI. After the scammers established contact with the victims using these automated calls, they tricked them into sending large amounts of money through physical shipments or wire transfers to other members involved in the fraud, including the Mitras. The scammers used several schemes to persuade victims to send money, like pretending to be officials from government agencies like the Social Security Administration, FBI or DEA. According to the federal prosecutors, they threatened victims with severe legal or financial consequences. ALSO READ | Nawaz Sharif praises Modi, says Pak begging for funds while India has reached the Moon Furthermore, the fraudsters convinced the victims they were from a tech support company, forcing them into providing remote access to their personal computers and confidential information. The scammer pretends to add money to the victim's bank account. But in reality, they transfer money from another victim's accounts. The victim believes that they received extra money. Then, the scammer instructs the victim to send money via mail or wire transfer to members involved in the scam, such as the Mitras. (With inputs from agencies) WATCH WION LIVE HERE

US federal court sentences two Indian nationals to 41 months in prison for robocall scam

London-based, Indian-origin futures trader Navinder Sarao pleaded guilty on Wednesday in the US for using manipulative trading practices that helped trigger Wall Street&rsquo;s 2010 $1 trillion &ldquo;flash crash&rdquo;.

Sarao, 37, pleaded guilty to one count each of spoofing and wire fraud.

After pleading guilty to federal charges, US District Court judge Virginia Kendall said he faces up to 30 years in prison.

Sarao traded futures on the Chicago Mercantile Exchange from his parents&rsquo; home in west London.

Prosecutors alleged that Sarao used a modified computer program to &quot;spoof&quot; E-mini S&amp;P 500 futures by generating large sell orders that pushed down prices. He then cancelled the trades and bought the contracts at the lower prices, they said.

US authorities say his actions contributed to the market instability that led to the flash crash in 2010. The crash wiped nearly $1trillion off the value of US shares.

After losing a legal battle against his extradition from the UK, he was sent to the US, where &ldquo;spoofing&rdquo; is an offence, to face federal charges.

&ldquo;Spoofing&rdquo; is the practice of buying or selling with the intent to cancel the transaction before execution. (It is not a crime in the UK.)&nbsp;

Sarao agreed to pay the US government $12.9 million he earned in profits from his illegal trading. He made more than &pound;30 million in less than five years.

He will be released on a $750,000 bond and be allowed to return to the UK.

(WION with inputs from Reuters)

Extradited to the US, the London-based trader pleaded guilty in an American court

London-based, Indian-origin futures trader Navinder Sarao pleaded guilty on Wednesday in the US for using manipulative trading practices that helped trigger Wall Street’s 2010 $1 trillion “flash crash”. Sarao, 37, pleaded guilty to one count each of spoofing and wire fraud. After pleading guilty to federal charges, US District Court judge Virginia Kendall said he faces up to 30 years in prison. Sarao traded futures on the Chicago Mercantile Exchange from his parents’ home in west London. Prosecutors alleged that Sarao used a modified computer program to "spoof" E-mini S&P 500 futures by generating large sell orders that pushed down prices. He then cancelled the trades and bought the contracts at the lower prices, they said. US authorities say his actions contributed to the market instability that led to the flash crash in 2010. The crash wiped nearly $1trillion off the value of US shares. After losing a legal battle against his extradition from the UK, he was sent to the US, where “spoofing” is an offence, to face federal charges. “Spoofing” is the practice of buying or selling with the intent to cancel the transaction before execution. (It is not a crime in the UK.) Sarao agreed to pay the US government $12.9 million he earned in profits from his illegal trading. He made more than £30 million in less than five years. He will be released on a $750,000 bond and be allowed to return to the UK. (WION with inputs from Reuters)

Indian-origin futures trader pleads guilty in $1tn 'flash crash' case

Guatemala&#39;s former football chief pleaded guilty in New York on Friday to racketeering and wire fraud conspiracies in connection with the unprecedented FIFA corruption scandal rocking world soccer. 
 
Brayan Jimenez, 62, negotiated and accepted bribes worth hundreds of thousands of dollars in awarding media and marketing rights for his country&#39;s qualifier matches for the 2018 and 2022 World Cups, prosecutors said. 
 
Jimenez, a former member of FIFA&#39;s Committee for Fair Play and Social Responsibility, agreed to forfeit $35,000. He faces a maximum sentence of 20 years for each count when sentenced, US officials said. 
 
Jimenez, who was detained in January in a disheveled and intoxicated state in a posh suburb of Guatemala City, was extradited to the United States in March. 
 
He initially pleaded not guilty to all charges, which included corruption, money laundering, fraud and embezzlement, and was placed under house arrest after posting a $1.5 million bond, $75,000 of it in cash. 
 
US prosecutors in New York have indicted 40 football and sports marketing executives, including Jimenez, over allegedly receiving tens of millions of bribes and kickbacks in the largest corruption scandal in the history of soccer. 
 
More than a third have since pleaded guilty. None have yet been formally sentenced and a date is still pending to put the rest on trial. 
 
(AFP)

Brayan Jimenez agreed to forfeit $35,000 and faces a maximum sentence for 20 years for each count. He had initially pleaded not guilty

Guatemala's former football chief pleaded guilty in New York on Friday to racketeering and wire fraud conspiracies in connection with the unprecedented FIFA corruption scandal rocking world soccer. Brayan Jimenez, 62, negotiated and accepted bribes worth hundreds of thousands of dollars in awarding media and marketing rights for his country's qualifier matches for the 2018 and 2022 World Cups, prosecutors said. Jimenez, a former member of FIFA's Committee for Fair Play and Social Responsibility, agreed to forfeit $35,000. He faces a maximum sentence of 20 years for each count when sentenced, US officials said. Jimenez, who was detained in January in a disheveled and intoxicated state in a posh suburb of Guatemala City, was extradited to the United States in March. He initially pleaded not guilty to all charges, which included corruption, money laundering, fraud and embezzlement, and was placed under house arrest after posting a $1.5 million bond, $75,000 of it in cash. US prosecutors in New York have indicted 40 football and sports marketing executives, including Jimenez, over allegedly receiving tens of millions of bribes and kickbacks in the largest corruption scandal in the history of soccer. More than a third have since pleaded guilty. None have yet been formally sentenced and a date is still pending to put the rest on trial. (AFP)

Former Guatemalan football chief pleads guilty to FIFA corruption charges

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