Forfeiture case for $1M seized from Robinhood account makes progress
There has been progress in the case for forfeiture of nearly $1 million in funds seized from a Robinhood Markets account. According to the latest filings with the Georgia Northern District Court, service was executed for Warrant for Arrest in Rem for $968,367.18 in funds seized from Robinhood.
The arrest warrant was issued shortly after the United States authorities launched this civil forfeiture action.
The case targets $968,367.18 in funds seized from Robinhood Markets, Inc. account number XXXXX1342 held in the name of Choman Ali.
Between April and May 2020, Choman Ali (Ali) applied for three Paycheck Protection Program (PPP) and five Economic Injury Disaster Loans (EIDL) loans on behalf of his businesses. The investigation revealed that Ali used proceeds of the loans for purposes that were not approved by PPP and EIDL rules.
Ali transferred the unlawfully obtained funds to his Robinhood account. For instance, between June 11 and June 22, 2020, $150,000 in funds were moved to the Robinhood Account via three $50,000 transfers, Then, between July 16 and July 28, 2020, $250,000 were moved to the Robinhood Account via five $50,000 transfers. The list continues…
The Defendant Funds are subject to forfeiture pursuant to 18 U.S.C. § 981(a)(1)(C) on the grounds that the funds are derived from proceeds traceable to violations of 18 U.S.C. §§ 1343 (wire fraud) and 1344 (bank fraud).
These funds are also subject to forfeiture pursuant to 18 U.S.C. § 981(a)(1)(A) because they constitute property involved in a transaction or attempted transaction in violation of 18 U.S.C. §§ 1956 or 1957 (money laundering) or are property traceable to such property.
The United States requests that the Court forfeit the Defendant Funds to the United States of America.