member The Real Housewives of Salt Lake City He pleaded guilty Monday to a charge of conspiracy to defraud, which carries more than 11 years in prison.
Jennifer Shah, 48, of Park City, Utah, signed a plea deal with prosecutors in Manhattan federal court that provides for a recommended sentence of 11 to 14 years. bars.
He told the judge that, starting in 2012, he was involved in a major telemarketing scam for nearly a decade that prosecutors say defrauded thousands of people across the country, including people over 55.
He said he knew he was conspiring with others to provide products to people who had “little or no value”.
“I knew I was wrong and that a lot of people were hurt and I’m sorry,” Shah told Judge Sidney H. Stein.
Sentencing was set for November 28. Shah remained free on bail but did not speak as he left the courthouse and walked the short distance to a waiting car.
In a subsequent statement, U.S. Attorney Damian Williams called Shah “a key player across the country who targeted older, more vulnerable victims.”
He added: “These victims were given false promises of financial security, but instead, Shah and his accomplices stole their savings and left them with nothing.”
Deputy federal inspector, Kiersten Ann Fletcher, says that Shah acted as a “front agent” who directed salespeople to victims and shared their illegal gains, using part of the money to pay for an apartment in New York where he lived and for others. personal expenses. Items.
As part of the plea deal, Shah agreed to forfeit $6.5 million and pay $9.5 million in restitution.
Fletcher said that between 2012 and March 2021, Shah was involved in a scam that sold fake services that were advertised to allow people to earn significant amounts of money through online businesses.
Prosecutors said Shah and others provided people lists to buyers of a “business opportunity scheme” that actually consisted of other people who had previously paid to create their own online businesses.
He was said to have lied about how much people could earn after purchasing the company’s services and about the alleged success of others who purchased the services.
Shah opened a sales hall in Manhattan selling fraudulent products, Fletcher said.
From 2018 to 2020, Shah controlled the daily operations of the Manhattan operation and moved some of its operations to Kosovo to avoid regulatory and police scrutiny, prosecutors said.
Prosecutors said Shah took several steps to conceal his role in the fraud, including using third-party names for his business entities, instructing others to do the same and using encrypted messaging apps to communicate. They said he also made several cash withdrawals that were structured to avoid foreign exchange transaction reporting requirements.
Fletcher said that Shah told a co-conspirator to lie under oath when questioned by the Federal Trade Commission and provided him with written talking points to go along with during the deposition.
He added that tax returns showed that Shah underreported profits from the fraud by hundreds of thousands of dollars.
Fletcher also admitted that he was treated for alcoholism and depression two years ago.
Source: Hollywood Reporter
Camila Luna is a writer at Gossipify, where she covers the latest movies and television series. With a passion for all things entertainment, Camila brings her unique perspective to her writing and offers readers an inside look at the industry. Camila is a graduate from the University of California, Los Angeles (UCLA) with a degree in English and is also a avid movie watcher.
