Four individuals have been indicted for their roles in a large-scale conspiracy involving more than $128 million in fraudulent proceeds. U.S. Attorney Roger B. Handberg announced the unsealing of the indictment on January 14, 2025, which charges Daniel Liburdi, 35, of Miami, Joseph Scotto, 44, of Bay Shore, NY, Gregory Walker, 43, of Ontario, Canada, and Frank Carbone III, 35, of Orlando, with conspiracy to commit bank fraud and conspiracy to commit money laundering.
The charges stem from an operation where the defendants allegedly used stolen personal information to submit fraudulent applications for merchant processing accounts with U.S. financial institutions. These fraudulent accounts allowed them to process over $128 million in illicit transactions for an e-commerce business employing high-risk sales tactics.
Liburdi and Carbone III also face additional charges of bank fraud. A conviction on each charge of bank fraud or conspiracy to commit bank fraud carries a maximum penalty of 30 years in prison. The conspiracy to commit money laundering charge carries up to 20 years in federal prison.
In addition to the charges, the U.S. government is seeking the forfeiture of $128 million in proceeds from the operation, as well as the seizure of three properties in Miami Beach and one in the U.S. Virgin Islands tied to the fraudulent activities.
This case was the result of a collaborative investigation by Homeland Security Investigations, the IRS Criminal Investigation Division, and other agencies in Florida, New York, and Canada. Assistant U.S. Attorney Adam J. Duso is prosecuting the case.
