A federal jury in the Eastern District of New York convicted a California man today for defrauding American Express of more than $4.7 million and money laundering.
According to court documents and evidence presented at trial, Jasminder Singh, 45, of Fremont, used four business entities that he created and controlled and 10 American Express credit cards in those entities’ names to purchase thousands of Apple iPhones he then sold overseas for millions of dollars. Between November 2017 and December 2019, the defendant misrepresented to American Express his inability to repay more than $4.7 million in charges incurred from the purchase of iPhones and initiated phony payments in order to secure additional credit. The defendant used the proceeds of the scheme to pay for personal expenses and buy luxury items, including a $1.3 million home and a luxury vehicle.
Singh was convicted of bank fraud and money laundering. He is scheduled to be sentenced on Aug. 2, and faces up to 30 years in prison. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.
Assistant Attorney General Kenneth A. Polite, Jr. of the Justice Department’s Criminal Division; U.S. Attorney Breon Peace for the Eastern District of New York; Assistant Director Luis Quesada of the FBI’s Criminal Investigative Division; and Assistant Director-in-Charge Michael J. Driscoll of the FBI’s New York Field Office made the announcement.
The FBI investigated the case.
Trial Attorney Patrick J. Campbell of the Criminal Division’s Fraud Section and Assistant U.S. Attorney Michael Gibaldi of the U.S. Attorney’s Office for the Eastern District of New York are prosecuting the case.