BROOKFIELD, Wis. —
Federal prosecutors have indicted a Brookfield man, Ankurkumar Patel, in connection with a $1 million money laundering scheme that targeted elderly victims across multiple states through a complex scam known as the “Phantom Hacker” fraud.
According to Acting U.S. Attorney Richard G. Frohling, the indictment, returned on Aug. 12, charges Patel, 41, with one count of money laundering conspiracy and one count of substantive money laundering. The announcement came in a Sept. 9 press release from the U.S. Attorney’s Office for the Eastern District of Wisconsin.
One victim in Sheboygan reportedly lost a significant sum after being duped into believing their identity and bank account were compromised. In the scam, perpetrators pose as tech support or government agents, urging victims to protect their money by moving it — often in the form of cash or physical gold — to accounts falsely claimed to be secure.
The scheme involves multiple layers of deception, including fake customer service representatives and impersonated law enforcement agents. Once the victims transfer funds, the money is moved between conspirators, often through anonymous or untraceable transactions.
Prosecutors allege that Patel personally retrieved over $1 million from victims and played a key role in distributing the stolen funds among co-conspirators.
This indictment follows a similar case last month, where a federal grand jury indicted an Indian national for defrauding a New Berlin couple, who were tricked into converting their savings into more than $500,000 worth of gold under the false pretense of working with the federal government.
If convicted, Patel faces:
Up to 20 years in prison and fines exceeding $500,000 for conspiracy to launder money
Up to 10 years in prison and fines up to $250,000 for the substantive laundering count
The case is being investigated by the FBI in Milwaukee and Homeland Security Investigations in St. Louis, and is being prosecuted by Assistant U.S. Attorney Peter J. Smyczek.
