Texas Trade-Based Money Laundering Scheme Indicted
1 report, 1 independent
Updated Fri 00:00
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What happened
A grand jury in Bridgeport returned an indictment on September 3, 2026, charging Ketan Kamdar and Jheel Kamdar with money laundering conspiracy. The scheme involved using the purchase and sale of used copiers from American companies to pay operators in India. The indictment seeks the forfeiture of $4,184,295.22.
From courant.com
Why it matters
The case involves trade-based money laundering, a method where the movement of goods is used primarily to facilitate financial movement rather than commercial activity. The indictment highlights risks associated with international trade compliance and financial integrity.
From courant.com
Who's involved
- TexasLocation where the defendants are from and where the company operates