Four jewelers from New Jersey and one from Long Island, New York, have been accused by federal agents of laundering $673 million through illegal operations over the past four years. announced NJ Federal Attorney Philip R. Sellinger.
The suspects are jewelry from the famous “Diamond District” in Manhattan. They were identified as Raj Vaidya (26), Rakesh Vaidya (51), Shrey Vaidya (23) and Neel Patel (26), all residents of Edison (NJ); and Youssef Janfar, aka “Joe Rodeo,” 57, of Great Neck, NY.
The four inmates from New Jersey operated a series of alleged diamond, gold and jewelry companies in Manhattan, including Arya Diamond Jewelery USA Inc., which does business as “Karats & Carats,” prosecutor Sellinger said.
Other operations are identified in court documents as Diamspark LGD LLC, Royal Diamonds LLC, Raj Gold and Diamond LLC, Royal Arya Jewelery Inc and Raj Gold and Diamond Inc. Janfar also allegedly operated Rodeo in NY, under the name “Sarah Jewels,” among other guises, he stressed. Everyday Voice.
The defendants used the operations as front to launder hundreds of millions of dollars in illegal financial transactions for clients – including converting money into checks or wire transfers – in exchange for huge commission payments, Seller complaint.
The prosecutor did not identify the clients, although he appeared to do so The DEA and Homeland Security Investigations (HSI) worked with the IRS to bring the case.
“None of their companies are registered as money transfer businesses in New York, New Jersey or the Financial Crimes Enforcement Network,” added the US attorney.
All charges are mere accusations and those charged are presumed innocent until proven guilty in a court of law.
