Topeka Residents Charged In $400,000 Bank Fraud Scheme
TOPEKA, KAN. – Five Topeka residents are charged in a federal indictment unsealed today with conspiring to defraud Topeka banks and businesses of more than $400,000, U.S. Attorney Barry Grissom said.
A 31-count indictment alleges the defendants purported to own and operate gas stations, convenience stores and smoke shops in Topeka and Osage City, Kan., when they set up accounts at banks in Topeka. They deposited insufficient funds checks and immediately withdrew or transferred funds before the federally insured institutions discovered the fraud. In addition, they made electronic payments using false account numbers and accounts with insufficient funds.
Named in the indictment are the following:
Maqsood Baloch, 31, Topeka, Kan., who is charged with one count of conspiracy, five counts of bank fraud, five counts of wire fraud and 12 counts of Social Security fraud.
Amanda Rene Baloch, 26, Topeka, Kan., Maqsood Baloch’s wife, who is charged with one count of conspiracy, six counts of bank fraud, two counts of wire fraud, and two counts of Social Security fraud.
Irfan Khan, 30, Topeka, is charged with one count of conspiracy, three counts of bank fraud, four counts of wire fraud and one count of Social Security fraud.
Junaid Iqbal, 30, Topeka, Kan, who is charged with one count of conspiracy, two counts of bank fraud, two counts of wire fraud and four counts of Social Security fraud
Kanwal Baloch, 22, Topeka, Kan., Maqsood Baloch’s sister, who is charged with one count of conspiracy, two counts of bank fraud and one count of wire fraud.
The conspirators, all of whom except Amanda Baloch are natives of Pakistan, represented themselves as officers or managers of a variety of businesses including Alam Traders, American Gas, Farzana Express, Khan Express, KS Midwest, Saif Express, Ztech, Smoke 4 Less, Smoker’s Paradise, Tobacco Outlet, Topeka Salon, American Eagles and 786 Express.
As part of the conspiracy, they set up accounts at Bank of America, Central National Bank Citi Bank, Core First, Educational Credit Union, MBNA, UMB and US Bank.
Upon conviction, the crimes carry the following penalties:
Conspiracy: A maximum penalty of 30 years and a fine up to $1 million.
Bank fraud: A maximum penalty of 30 years and a fine up to $1 million.
Wire fraud: A maximum penalty of 20 years and a fine up to $250,000 on each count.
Social Security fraud: A maximum penalty of five years and a fine up to $250,000 on each count.
The U.S. Secret Service investigated. Assistant U.S. Attorney Tanya Treadway is prosecuting.
In all cases, defendants are presumed innocent until and unless proven guilty. The indictments merely contain allegations of criminal conduct.
