Glen Burnie man pleads guilty to money laundering.
A Glen Burnie man pleaded guilty in U.S. District Court Tuesday to laundering millions of dollars he acquired through a variety of scams.
Kaushik Kanti Modi, 43, who lives in the country illegally, was involved in a conspiracy where people posed as the Internal Revenue Service and convinced their victims they owed them money, the U.S. Attorney’s Office said. The money was then loaded onto stored value cards that Modi used to buy money orders. The money orders were then deposited into Modi’s bank account or those of his co-conspirators, the U.S. Attorney’s Office said.
Modi deposited over $2 million in money orders into his own bank account from January 2014 to March 2015, according to his plea agreement. He will be sentenced on May 12th and faces a maximum term of 20 years in prison.