US authorities have accused Theresa Anne Chabot of Montana, USA, of operating a money mule business to collect money from US-based wire fraud schemes and then sending the proceeds abroad in return for a commission. Notably, Chabot pleaded not guilty to unlicensed money transmitting business, conspiracy to commit money laundering, and money laundering.
Authorities believe that during 2016-21, Chabot and co-conspirators used her unregistered money transmitting business, Avalanche Creek, LLC, to launder the proceeds of several US-based wire fraud schemes, such as advance pay schemes, online scams, investment schemes, romance scams, COVID-19 funding fraud, etc.
As part of the scheme, Chabot opened over 50 bank accounts to receive the illicit proceeds and transfer them abroad. Many banks took cognizance of the fraudulent accounts and shut them down. Yet, Chabot continued to open new bank accounts to receive the criminal proceeds. She retained a commission of 10% from the fraudulent proceeds deposited into her bank accounts.
For her crimes, Chabot could receive a prison sentence of up to 20 years, in addition to a $500,000 fine and three years of supervised release.
Source: US Department of Justice