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Former Princeton Resident Indicted for Multimillion-Dollar Fraud Schemes
Comprehensive Fraud Operation Involves Securities, Credit Card, and Email Compromise Fraud
Newark, NJ - Ford Graham, a 60-year-old former resident of Princeton, New Jersey, faces a 29-count indictment, including charges of wire fraud, securities fraud, aggravated identity theft, money laundering, and engaging in unlawful monetary transactions.
This extensive indictment, announced by U.S. Attorney Philip Sellinger, exposes a complex web of fraudulent schemes designed to deceive and defraud individuals and institutions of millions of dollars.
Graham, allegedly operating under the guise of Vulcan Capital Corporation among other entities, portrayed himself as a seasoned financier with expertise in energy and natural resources projects.
According to the U.S. Attorney's Office, from December 2012 to September 2013, Graham enticed victims to invest more than $2 million in a purported investment opportunity. However, investigations reveal that he used substantial portions of these funds for personal luxuries, including international travel and private school tuition, rather than the promised investments.
The indictment further outlines Graham's involvement in credit card fraud from December 2017 to February 2018.
Utilizing stolen credit card numbers, Graham processed fraudulent transactions through payment platforms, swiftly transferring the ill-gotten gains before detection.
When confronted, he submitted a range of falsified documents to support the unauthorized transactions, resulting in significant financial losses and the misuse of victims' personal identification information.
Moreover, between February 2017 and June 2018, Graham and his accomplices orchestrated a business email compromise scheme, defrauding institutions and individuals by redirecting large wire transfers to bank accounts under their control. One noted incident involved a victim being manipulated into sending over $650,000 to a bank account managed by Graham.
This segment of the fraudulent operation aimed to misappropriate at least $6 million through deceitful email communications.
The wire fraud and conspiracy charges could result in up to 20 years in prison and substantial fines. Securities fraud carries a similar sentence, with the possibility of a $5 million fine.
Aggravated identity theft mandates a consecutive two-year sentence to any other imposed penalty. Money laundering and unlawful monetary transactions also face severe punishments, underscoring the gravity of Graham's alleged criminal activities.
This case highlights the diligent efforts of the FBI, IRS - Criminal Investigation, and the New Jersey Bureau of Securities in unraveling the multifaceted schemes orchestrated by Graham. Assistant U.S. Attorney Martha K. Nye represents the government in a pursuit to hold those exploiting financial systems accountable.
As Graham awaits trial, the legal principle of presumption of innocence remains, with the charges serving as allegations until proven in court. This case serves as a cautionary tale of the sophisticated means by which fraudsters can manipulate systems and individuals for personal gain.
