FBI Fugitive Admits Involvement In 2002 Bank Fraud Conspiracy
NEWARK, N.J. – A fugitive wanted by the FBI for almost 15 years admitted today to defrauding a financial institution to obtain hundreds of thousands of dollars for himself, his computer retail business, and his associates, U.S. Attorney Craig Carpenito announced.
Steven Nacim, 49, a/k/a “Fouad,” a Moroccan national, pleaded guilty before U.S. District Judge William J. Martini in Newark federal court to a superseding information charging him with one count of conspiracy to commit bank fraud.
According to documents filed in this case and statements made in court:
In March and April of 2002, Nacim and others owned and operated a business known as Computer 3000, based in East Rutherford, New Jersey, and Casablanca, Morocco. Nacim and his conspirators executed a fraudulent check scheme involving the negotiation of a $289,326 check drawn on insufficient funds, and the wire transfer of the proceeds through multiple accounts controlled by the conspirators. Nacim used the majority of the funds for his own benefit and for the benefit of his computer business.
The conspiracy charge carries a maximum penalty of five years in prison and a fine of $250,000 or twice his gain, or twice the loss sustained by the victim of the offense. Nacim agreed to pay $240,580 in restitution to the victim bank, and to forfeit $240,580. He is scheduled to be sentenced on July 26, 2018, at 10:00 a.m.
U.S. Attorney Carpenito credited special agents of the FBI, under the direction of Acting Special Agent in Charge Bradley W. Cohen, with the investigation leading to today’s guilty plea.
The government is represented by Assistant U.S. Attorney Shirley U. Emehelu, Chief of the Asset Recovery Money Laundering Unit.
Defense counsel: Joseph B. Shumofksy Esq., Newark, New Jersey