Multiple criminal charges were filed in federal court in Brooklyn against a local businessman accused of engaging in a $55 million check-cashing scheme that deliberately flouted federal banking and anti-money laundering laws.
Charges of bank fraud, aggravated identity theft, and witness tampering were slapped against David Motovich, principal of a lumber and construction materials business.
Motovich who is already detained is also accused of attempting to derail the government’s investigation by tampering with witnesses.
“Today’s arrest demonstrates that this Office will take down and vigorously prosecute defendants like Motovich, who circumvent compliance with federal financial laws out of greed, just to line his own pockets and live a life of luxury,” Jacquelyn M. Kasulis, Acting United States Attorney for the Eastern District of New York said.
“Federal banking laws exist to protect the industry from fraud and the general public from money laundering schemes that often further criminal activity.
Motovich, as alleged, broke these laws in order to advance his own monetary interests,” FBI Assistant Director-in-Charge Driscoll said.
“The multiple schemes Mr. Motovich allegedly devised has a great impact on both his clients and the United States treasury,” IRS-CI Acting Special Agent-in-Charge Fattorusso said.
“In our current environment, the services provided by federal and local governments are sorely needed. The allegations in this complaint require the financial expertise IRS-CI provides in order to unravel the complexities of such crimes,” Fattorusso added.