Wisconsin Man Indicted in 30 Million Dollar Fraud Scheme |
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Topics: Albert Golant
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U.S. Attorney’s Office
Eastern District of Wisconsin
29 June 2018
FOR IMMEDIATE RELEASE
United States Attorney Matthew D. Krueger announced that on June 26, 2018, a federal grand jury in Milwaukee returned an indictment charging Albert Golant, aka Alex Golant, (age: 37) of Wales, Wisconsin with twelve counts of wire fraud and bank fraud. Golant is charged with seven counts of wire fraud, in violation of Title 18, United States Code, Section 1341 and five counts of bank fraud in violation of Title 18, United States Code, Section 1344. Each of the wire fraud charges contained in the indictment carries a maximum penalty of up to twenty years in prison and a fine of up to $250,000, or both. Each of the bank fraud charges contained in the indictment carries a maximum penalty of thirty years in prison and a fine of up to $1 million, or both.
The indictment alleges that Golant has been involved in the business of purchasing luxury vehicles in the United States using straw buyers and shipping them overseas to individual foreign buyers both directly and through vehicle brokers. Golant, and others, knowingly devised and participated in a scheme to defraud. The indictment alleges that it was part of the scheme that Golant obtained funds from third parties, including vehicle brokers, investors, and lenders, by representing that the funds would be used to purchase specific luxury vehicles. Instead, Golant diverted tens of millions of dollars to his own personal use. Golant used the funds to gamble at casinos, to pay off gambling debts, to provide funds to professional gamblers to gamble on his behalf, to pay off prior loans, and to satisfy obligations to other clients.
It was further part of the scheme that Golant fraudulently sold luxury vehicles, which he knew had previously been sold and exported to China, to dealerships in Wisconsin and Illinois. After the vehicle was fraudulently sold to the dealership, Golant represented that he had a customer who would buy the vehicle back from the dealership using financing. Golant submitted false and fraudulent financing applications on behalf of his customers to obtain the financing for the vehicles.
Through his scheme, Golant fraudulently obtained at least $30 million from at least 40 different victims. This matter was investigated by the Internal Revenue Service-Criminal Investigations and the Federal Bureau of Investigation and has been assigned to Assistant United States Attorney Laura S. Kwaterski for prosecution.
The public is cautioned that an indictment is merely a charge and the defendant is presumed innocent until and unless proven guilty.