Count Twenty-Three: Money Laundering-Union Bank Funds Sample Clauses

Count Twenty-Three: Money Laundering-Union Bank Funds. On or about May 23, 2007, Xxxxxxxx caused a wire transfer of $112,830 from an account at Bank of America, Kansas City, MO, to an account in the name of New World Star Real Estate at Haabib Bank Limited, Dubai, United Arab Emirates. Xxxxxxxx knew that the funds for this wire transfer included funds obtained from the $175,000 commercial loan line of credit from Union Bank and that he had obtained these funds by material false and fraudulent representations to Union Bank in order to obtain this loan. The funds for the $112,830 wire transfer came from draws of $75,000, $75,000, and $21,000 on the working capital commercial loan line of credit. In order to generate these funds, the defendant first caused three counter checks totaling $115,000 and two other checks totaling $60,000 to be drawn on an account of Hafssa LLC, d/b/a Xxxxxx Used Auto Parts at Union Bank. The defendant deposited all of these checks into an account at Bank of America. The $112,830 wire transfer came from the Bank of America account into which checks drawn on the Union Bank account had been deposited. The defendant conducted the transactions relating to the $112,830 wire transfer in order to make it more difficult to trace the funds. Once the funds arrived in the United Arab Emirates, the defendant caused them to be used for the purchase of an apartment, which defendant later sold, resulting in a profit to him of approximately $17,000.