FBI Fugitive Makes Initial Court Appearance For 2003 Indictment For Wire And Bank Fraud
NEWARK, N.J. – A fugitive wanted by the FBI for nearly 15 years was arrested this morning and appeared in court for his role in orchestrating a wire fraud and bank fraud scheme, U.S. Attorney Craig Carpenito announced.
In July 2003, Steven Nacim, 49, a/k/a “Fouad,” a Moroccan national, was indicted by a federal grand jury sitting in Newark for conspiring to commit wire fraud and bank fraud, and for substantive counts of wire fraud and bank fraud. Nacim returned to the United States from Morocco earlier this week and was taken into custody today in Newark. He appeared before U.S. Magistrate Judge Cathy L. Waldor and was placed under house arrest with GPS location monitoring.
According to the indictment 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 fraudulent check drawn on insufficient funds, and the wire transfer of the proceeds through multiple accounts controlled by the conspirators. Through Computer 3000, they purchased computers and related merchandise using company checks drawn on insufficient funds, and then shipped the merchandise to Morocco. Nacim’s two co-defendants remain fugitives.
The conspiracy charge carries a maximum sentence of five years in prison. The wire fraud charges each carry a maximum sentence of 20 years in prison and the bank fraud charge carries a maximum sentence of 30 years in prison and a $1 million fine. The defendant also faces a maximum fine of $250,000 or twice his gain, or twice the loss sustained by the victims of the offense, for the conspiracy and wire fraud charges.
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 the charges.
The government is represented by Assistant U.S. Attorney Shirley U. Emehelu, Chief of the Asset Recovery Money Laundering Unit, in Newark.
The charges and allegations contained in the indictment are merely accusations, and the defendant is presumed innocent unless and until proven guilty.
Defense counsel: Joseph B. Shumofsky Esq., Newark