FOR IMMEDIATE RELEASE	CONTACT: Lauren Horwood
February 9, 2012	PHONE: (916) 554-2706
www.usdoj.gov/usao/cae	usacae.edcapress@usdoj.gov

SACRAMENTO, Calif. — United States Attorney Benjamin B. Wagner announced today that a federal grand jury returned an 11-count indictment charging Leonid Yakovlev, 41, of Antelope, with wire fraud and money laundering.
According to the indictment, Yakovlev, through his corporation “24 Hour Corp.,” fraudulently charged over 20,000 American Express cards in small amounts, 40,000 separate times. As a result, Yakovlev obtained over $900,000 in fraud proceeds. Some of that money was used to purchase a residence in Sacramento, resulting in a money laundering charge.
This case is the product of an extensive investigation by the Internal Revenue Service-Criminal Investigation and the United States Secret Service. Assistant United States Attorney Jean M. Hobler is prosecuting the case.
If convicted, Yakovlev faces a maximum statutory penalty for wire fraud, is 20 years in prison and a fine of up to $250,000. The actual sentence if convicted will be determined at the discretion of the court after consideration of any applicable statutory factors and the Federal Sentencing Guidelines, which take into account a number of variables.

The charges are only allegations, and the defendant is presumed innocent until and unless proven guilty beyond a reasonable doubt.

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