New Jersey Man Pleads Guilty in Fraud Scheme to Swindle Victims in 5 States

PORTLAND, Maine: A New Jersey man pleaded guilty today in U.S. District Court in Portland to conspiring to commit wire fraud and making false statements to an FBI agent.

According to court records, Bharat Awasarmol, 49, conspired with others in a multi-state scheme to defraud seven victims in five states, including Maine. As part of the scheme, victims received telephone calls from individuals posing as government officials. These imposters fraudulently instructed victims to withdraw cash and purchase gold to turn over to the government for safekeeping. The callers then arranged for victims to meet fake government agents to hand over the cash and gold. Awasarmol was intercepted when FBI agents caught him accepting a package from a victim in Maine. The Maine victim had been instructed by an individual posing as an employee of the Federal Trade Commission to meet Awasarmol and provide him with gold bars. Awasarmol made false statements to an FBI agent regarding his role in the scheme.

As part of the conspiracy, Awasarmol also accepted cash and gold from six additional victims in New Hampshire, New York, New Jersey, and Virginia, all of whom had been deceived by individuals posing as government officials.

Awasarmol faces up to 20 years in prison and a fine of up to $250,000 on the wire fraud conspiracy charge. He also faces up to five years in prison and a fine of up to $250,000 on the false statement charge.

Awasarmol will be sentenced after the completion of a presentence investigative report by the U.S. Probation Office. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

The FBI investigated the case.

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