Ali Abid of New York City pleaded guilty in federal court to fraud against a Youngstown-area man, 69, by convincing him in July 2018 to pay nearly $ 50,000 in fees and charges associated with a bogus loan of $ 3 million.
According to court documents, an Abid co-conspirator told the victim he got the $ 3 million loan and the victim had to pay more than $ 100,000 in cash to finalize the loan “while in fact there was no loan and the alleged charges were fictitious.
The victim was asked to bring $ 50,000 into the parking lot of a home improvement store in Johnstown, Pennsylvania. The victim therefore cashed a check for $ 52,000 on July 3, 2018 and received $ 48,907 after the costs associated with cashing the check.
The victim took the money to the parking lot, met Abid and paid the money to Abid, according to the documents.
While in the parking lot, the co-conspirator stayed out of sight and spoke with the victim on the phone. The victim then handed the money to Abid, who was identified as “Sharif”.
His guilty plea came earlier this month via video in federal court in Cleveland.
Judge Donald Nugent of the U.S. District Court for the Northern District of Ohio will sentence Abid on November 17 at 10 a.m.
Abid remains free after posting a $ 10,000 bond when he was arraigned last October.