WARNING: MONEY LAUNDERER NUTHAPAT LAPASUJIRANAN BASED IN THAILAND is close associate of senior OCG member Nagy Shehata arrested December 2015 by USA FBI
USA DOJ ANNOUNCEMENT NAGY SHEHATA PLEADS GUILTY: Olathe Man Pleads Guilty In $8 Million Investment Scam
KANSAS CITY, KAN. – An Olathe man pleaded guilty Monday to stealing more than $8 million from a Turkish investor, U.S. Attorney Tom Beall said.
Nagy Shehata, 57, Olathe, Kan., pleaded guilty to one count of conspiracy to commit wire fraud. In his plea, he admitted the crime occurred while he was president of Premier Investment Group, a corporation registered in Missouri. During that time, Shehata formed a joint partnership with co-defendant Laura Lee Sorsby, a Texas resident who conducted business through a company called Can Am International.
The victim was a Turkish resident who was the founder of a hospital in Istanbul, Turkey. The defendants offered the victim the opportunity to invest in a project that started out as a plan to build a hospital in Syria and evolved into a plan to build a shopping mall in Iraq. Based on the defendants’ false statements, the victim transferred money to Shehata’s bank in New York. Shehata wired the money from New York to his bank accounts in Kansas.
The defendants did not use the money for the hospital or shopping mall projects. Instead, Shehata bought an $111,000 car and an $855,000 house.
Sentencing will be set for a later time. Shehata faces up to 20 years in federal prison and restitution of more than $8.2 million. Beall commended The FBI and Assistant U.S. Attorney Chris Oakley for their work on the case.
USA DOJ ANNOUNCEMENT OF NAGY SHEHATA ARREST: Indictment: Kansas-Based Scam Cost Turkish Investor Millions
KANSAS CITY, KS—An Olathe man was indicted Thursday on federal charges of devising a fraud scheme that cost a Turkish investor millions of dollars, U.S. Attorney Barry Grissom said.
Nagy Shehata, 55, Olathe, Kan., and Laura Lee Sorsby, 62, Texarkana, Texas, are charged in a superseding indictment with one count of conspiracy to commit wire fraud and four counts of wire fraud. In addition, Shehata is charged with two counts of money laundering.
The indictment alleges the crimes occurred while Shehata was the president and registered agent for Premier Investment Group, Inc., and Sorsby was president of Can Am International, LLC, headquartered in Dallas. They offered an investor in Turkey investments in building a shopping mall in Turkey and a hospital in Syria. The investor transferred six million Euros (more than $8 million) for the hospital project. The defendants diverted the money to their own use. Shehata bought an $855,000 house and an $111,000 auto. Sorsby bought a $77,000 car and a $163,000 house. They promised the investor to return his money but they never gave the money back.
If convicted, they face a maximum penalty of 20 years and a fine up to $250,000 on the conspiracy count and each of the wire fraud counts, and a maximum penalty of 10 years and a fine up to $250,000 on each of the money laundering counts. The FBI investigated. Assistant U.S. Attorney Chris Oakley is prosecuting.
BACKGROUND: OCG INCLUDING NAGY SHEHATA COMMITTED LONG TERM SOPHISTICATED FRAUD
+ MONEY LAUNDERING
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