{"id":42342,"date":"2021-03-18T16:09:47","date_gmt":"2021-03-18T23:09:47","guid":{"rendered":"https:\/\/cjnotebook.com\/?p=42342"},"modified":"2021-03-18T16:10:00","modified_gmt":"2021-03-18T23:10:00","slug":"californian-charged-with-allegedly-laundering-proceeds-of-fraud-schemes-targeting-law-firms","status":"publish","type":"post","link":"https:\/\/cjnotebook.com\/?p=42342","title":{"rendered":"Californian Charged with Allegedly Laundering Proceeds of Fraud Schemes Targeting Law Firms"},"content":{"rendered":"<p style=\"text-align: center;\"><strong><span lang=\"EN\" style=\"font-size: 20px;\">NEWARK, N.J.<\/span><\/strong><\/p>\n<p style=\"text-align: center;\"><span lang=\"EN\" style=\"font-size: 20px;\"><a href=\"https:\/\/cjnotebook.com\/alleged-con-man-who-romanced-some-of-his-victims-stole-more-than-1-million-from-them\/lady-justice\/\" rel=\"attachment wp-att-42277\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-42277\" src=\"https:\/\/cjnotebook.com\/wp-content\/uploads\/2021\/03\/Lady-justice-300x225.jpg\" alt=\"\" width=\"300\" height=\"225\" srcset=\"https:\/\/cjnotebook.com\/wp-content\/uploads\/2021\/03\/Lady-justice-300x225.jpg 300w, https:\/\/cjnotebook.com\/wp-content\/uploads\/2021\/03\/Lady-justice.jpg 640w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a>A California man has been charged with laundering money that originated from fraudulently obtained loans from the U.S. Small Business Association and from a business email compromise scheme that targeted a law firm based in New Jersey, Acting U.S. Attorney Rachael A. Honig announced.<\/span><\/p>\n<p style=\"text-align: center;\"><span lang=\"EN\" style=\"font-size: 20px;\">Eric Bullard, 59, of Los Angeles, California, is charged by complaint with one count of money laundering conspiracy. <\/span><\/p>\n<p style=\"text-align: center;\"><span lang=\"EN\" style=\"font-size: 20px;\">Bullard was taken into custody Wednesday in California on an unrelated warrant for a violation of federal supervised release, according to officials.<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px;\">Bullard is presumed innocent unless proven guilty.<\/span><\/p>\n<p style=\"text-align: center;\"><span lang=\"EN\" style=\"font-size: 20px;\">According to documents filed in this case and statements made in court:<\/span><\/p>\n<p style=\"text-align: center;\"><span lang=\"EN\" style=\"font-size: 20px;\"><a href=\"https:\/\/cjnotebook.com\/skid-row\/judge-gavel\/\" rel=\"attachment wp-att-39979\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-39979 alignleft\" src=\"https:\/\/cjnotebook.com\/wp-content\/uploads\/2020\/07\/judge-gavel-300x160.jpg\" alt=\"\" width=\"300\" height=\"160\" \/><\/a>In June 2020, Victim 1 communicated via email with a law firm in New Jersey that was helping Victim 1, a resident of Bergen County, New Jersey, with a real estate transaction. <\/span><\/p>\n<p style=\"text-align: center;\"><span lang=\"EN\" style=\"font-size: 20px;\">One of the law firm\u2019s email accounts was compromised and someone purporting to be emailing on behalf of the law firm sent instructions to Victim 1 to wire approximately $560,000 into an escrow account under the name \u201cEric\u2019s Commercial LLC.\u201d <\/span><\/p>\n<p style=\"text-align: center;\"><span lang=\"EN\" style=\"font-size: 20px;\">Victim 1 wired approximately $560,000 into a business bank account controlled by Bullard. <\/span><\/p>\n<p style=\"text-align: center;\"><span lang=\"EN\" style=\"font-size: 20px;\">Victim 1 did not intend for the money to be transferred to Bullard and sent the wire transfer to Bullard\u2019s account under the belief that the wire instructions had come from the New Jersey law firm.<\/span><\/p>\n<p style=\"text-align: center;\"><span lang=\"EN\" style=\"font-size: 20px;\">Prior to receiving the $560,000 wire transfer, the Eric\u2019s Commercial LLC bank account had a beginning statement period balance of approximately $40. <\/span><\/p>\n<p style=\"text-align: center;\"><span lang=\"EN\" style=\"font-size: 20px;\">Shortly after the $560,000 was transferred into the Eric\u2019s Commercial LLC bank account, on the same day the wire transfer posted to his account, approximately 10 cash withdrawals were made from the account totaling $96,275. <\/span><\/p>\n<p style=\"text-align: center;\"><span lang=\"EN\" style=\"font-size: 20px;\">Surveillance footage obtained from the bank shows Bullard entering the bank to make withdrawals from the account. <\/span><\/p>\n<p style=\"text-align: center;\"><span lang=\"EN\" style=\"font-size: 20px;\">The same day, three large wire transfers sourced from the transfer from Victim 1 were executed from the Eric\u2019s Commercial LLC bank account to other bank accounts, including an account controlled by a conspirator.<\/span><\/p>\n<p style=\"text-align: center;\"><span lang=\"EN\" style=\"font-size: 20px;\">In addition to laundering the proceeds from the business email compromise, Bullard also obtained and laundered funds from the U.S. Small Business Administration\u2019s (SBA) Economic Injury Disaster Loan (EDIL) program. <\/span><\/p>\n<p style=\"text-align: center;\"><span lang=\"EN\" style=\"font-size: 20px;\">In July 2020, Bullard received into a business bank account that he controlled $51,395 from an SBA EDIL loan intended for a pharmacy company with a listed location in Idaho. Also $143,100 from an SBA EDIL loan intended for a pharmacy company with a listed location in Colorado.<\/span><\/p>\n<p style=\"text-align: center;\"><strong>DOJ NOTED:<\/strong><\/p>\n<p style=\"text-align: center;\"><span lang=\"EN\" style=\"font-size: 20px;\">Acting U.S. Attorney Honig credited special agents of the FBI, under the direction of Special Agent in Charge George M. Crouch Jr. in Newark, with the investigation leading to the charges.<\/span><\/p>\n<p style=\"text-align: center;\"><span lang=\"EN\" style=\"font-size: 20px;\">The government is represented by Assistant U.S. Attorney Jamie L. Hoxie of the Cybercrime Unit in Newark.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>NEWARK, N.J. A California man has been charged with laundering money that originated from fraudulently obtained loans from the U.S. Small Business Association and from a business email compromise scheme that targeted&#8230;<\/p>\n","protected":false},"author":1,"featured_media":41196,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-42342","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Californian Charged with Allegedly Laundering Proceeds of Fraud Schemes Targeting Law Firms<\/title>\n<meta name=\"description\" content=\"NEWARK, N.J. 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