[Law] 12 indicted in multi-million dollar Business Email Compromise scheme

Summary: Twelve individuals have been indicted for their involvement in a complex business email compromise scheme that defrauded U.S. victims out of millions. The charges include conspiracy, wire fraud, bank fraud, and money laundering. The defendants allegedly impersonated company personnel to misdirect financial transactions into accounts they controlled.

Affected: Various U.S. businesses, including construction companies, law firms, private equity firms, and title companies.

Keypoints :

• Indictment charges include conspiracy, wire fraud, bank fraud, and money laundering.
• Defendants gained unauthorized access to victims’ systems to monitor and spoof email communications.
• Funds were funneled through multiple accounts, with some money transferred out of the country.