U.S. Attorneys Targeted by International Wire Fraud Scheme
Posted on behalf of Stewart Bell, PLLC on Feb 27, 2014 in Firm News
The FBI has received numerous complaints from attorneys across the United States detailing their victimization by Transnational Organized Crime (TOC) groups that are defrauding, or attempting to defraud, their firm for hundreds of thousands of dollars.
The FBI has issued a private sector advisory about the fraud, which includes ways to avoid being victimized by this scheme.
In this wire fraud scheme, attorneys are contacted by members of a TOC group and solicited for business litigation against a U.S. company, typically one that is well-established but not well known.
Regardless of whether the firm responds, the TOC group will send a counterfeit cashiers check and request that it be deposited into a client trust account.
A few days later, before the check clears, the TOC group member will claim the funds must be wired back due to extenuating circumstances, less a small retainer fee for the attorney. At this point, the attorney will wire back the funds only to be alerted by the bank that the check was counterfeit.
Read the full private sector advisory here.