Indian-American siblings convicted in New Jersey for running fraudulent multimillion invoice scheme

0
Share

An Indian-American brother and sister from New Jersey were convicted of running a $3.7 million fraudulent invoice scheme April 26, using the ill-gotten gains to live the high life.

Shevandra Verasawmi, 38, of Matawan, New Jersey, and Vishallie Verasawmi, 37, of Green Brook, New Jersey, were convicted by a jury which deliberated for just one hour, following a one-week trial before District Judge Freda L. Wolfson in Trenton federal court, according to a press release from the U.S. Attorney for the District of New Jersey.

The two were found guilty on all four counts of an indictment charging them with one count of conspiracy to commit mail fraud and three counts of mail fraud. The mail fraud conspiracy and mail fraud counts each carry a maximum potential penalty of 20 years in prison and a $250,000 fine, or twice the gross gain or loss from the offense. Sentencing is scheduled for Aug. 7.

Both defendants were originally arrested and charged by indictment in July 2017.

According to the evidence presented in court, from April 2016 through August 2016, Shevandra and Vishallie Verasawmi defrauded an entity identified only as “Victim Company 1” in the press release from the U.S. Attorney for the District of New Jersey.

The Victim Company 1, was defrauded into paying shell companies that were incorporated by Shevandra Verasawmi.

Even though the shell companies never had contracts for goods or services with Victim Company 1, Vishallie Verasawmi used her position as an employee of Victim Company 1 to cause the shell companies to be added to Victim Company 1’s accounts payable system.

Shevandra and Vishallie Verasawmi then submitted dozens of fraudulent invoices to Victim Company 1 and ultimately deposited the fraud proceeds into bank accounts they controlled.

In total, Shevandra and Vishallie Verasawmi attempted to divert millions of dollars belonging to Victim Company 1 and spent the proceeds on personal expenses, including a luxury car and credit card payments.

The indictment seeks forfeiture of Shevandra and Vishallie Verasawmi’s proceeds from the scheme, including $1,066,830 and a 2016 BMW 750Li xDrive sedan.