States Attorney's Office District of Connecticut
|March 16, 2011||
FORMER BRIDGEPORT RESIDENT INDICTED FOR OPERATING CREDIT “BUST OUT” SCHEME
David B. Fein, United States Attorney for the District of Connecticut, announced that a federal grand jury sitting in Bridgeport returned an eight-count indictment today charging MOHAMMED TAKHTARAWANJI, also known as “Abu Terak,” 58, of Tampa, Florida, formerly of Bridgeport, with conspiracy and wire fraud offenses stemming from a credit “bust out” scheme he is alleged to have orchestrated.
According to the allegations set forth in the indictment, TAKHTARAWANJI assisted another individual with charging his credit accounts up to or over their available credit limit. TAKHTARAWANJI then assisted with the submission of fraudulent or insufficiently funded checks to the credit issuers. Once received by the credit issuers, and the payments were posted to the individual’s accounts, the individual’s credit balance was temporarily reduced, thereby allowing them to draw on the credit lines further before the credit issuers discovered that the posted payments were fraudulent.
The indictment further alleges that TAKHTARAWANJI took a portion of the proceeds for orchestrating the scheme. After the individual’s credit was fully “busted out,” the individual fled the country and relocated to Syria.
It is alleged that credit providers lost approximately $238,000 as a result of this scheme.
The indictment charges TAKHTARAWANJI with one count of conspiring to engage in wire fraud and seven counts of wire fraud. If convicted, he faces a maximum term of imprisonment of 20 years, on each count.
U.S. Attorney Fein stressed that an indictment is only a charge and is not evidence of guilt. Charges are only allegations and the defendant is presumed innocent unless and until proven guilty beyond a reasonable doubt.
This matter is being investigated by special agents and forensic accountants from the Federal Bureau of Investigation’s JTTF. This case is being prosecuted by Assistant United States Attorney Stephen B. Reynolds.
U.S. ATTORNEY'S OFFICE
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