United States: Woman Commits Bank Fraud Using Cryptocurrencies To Support ISIS

From American Security Today:
Zoobia Shahnaz, 27, of Brentwood, New York, pleaded guilty on Monday committing bank fraud and laundering over $85,000 in Bitcoin and other cryptocurrencies in order to support the Islamic State of Iraq and al-Sham (ISIS)….

Shahnaz fraudulently applied for and used over a dozen credit cards, which she used to purchase approximately in Bitcoin and other cryptocurrencies online….

Specifically, Shahnaz obtained a loan for approximately $22,500 by way of materially false pretenses, representations and promises.

She also fraudulently applied for and used over a dozen credit cards, which she used to purchase approximately $62,000 in Bitcoin and other cryptocurrencies online.

She then engaged in a pattern of financial activity, designed to avoid transaction reporting requirements, conceal the identity, source and destination of the illicitly obtained monies, and, ultimately, benefit ISIS – by culminating in several wire transactions totaling over $150,000 to individuals and shell entities in Pakistan, China and Turkey that were fronts for ISIS.

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