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A 31-year-old Texas businessman has been charged with multiple counts of mail and bank fraud for allegedly cheating FedEx out of thousands in shipping fees he incurred as part of his cell phone and electronics export business.
Babar Butt, a Pakistani national, lived in multiple locations in Houston and Spring, Texas, and operated an electronics export business for which he routinely shipped items to Dubai, United Arab Emirates.
He is charged with 14 counts of mail fraud and three counts of bank fraud. If convicted, he faces up to 20 years in prison for a conviction of mail fraud. The bank fraud counts carry a maximum of 30 years imprisonment as well as a possible $1 million maximum fine. The indictment also seeks a money judgment equal to the total value of the property subject to forfeiture – estimated to be, but not limited to, approximately $287,679.
The Pakistani businessman was taken into custody Oct. 11, according to a press release from the U.S. Attorney for the Southern District of Maryland, Kenneth Magidson.
The indictment alleges that from February 2015 through August 2016, Butt devised a scheme to cheat on paying shipping fees to FedEx by opening various shipping accounts. He would allegedly ship one or more packages of cell phones and electronics to Dubai and elsewhere until the charges were declined and he could no longer ship on that account. According to the indictment, he would then open new accounts to continue his scheme and would again not pay his shipping invoices, causing significant losses to FedEx. He also cashed several checks drawn on a closed bank account which caused significant losses to Bank of Texas, according to the indictment.
The post Pakistani Citizen Charged In Texas for Defrauding FedEx appeared first on News India Times.
