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1. • • A Brooklyn man is facing federal charges related to an illegal check-cashing scheme that netted him more than $55 million over the past decade. David Motovich, 46, faces charges of bank fraud, identity theft, and witness tampering in relation to the scheme, federal prosecutors at the Eastern District of New York announced Tuesday.
     www.brooklynpaper.com/feds-charge-midwood-man-in-fraudulent-check-cashing-scheme/

     Feds charge Midwood man in $55M fraudulent check cashing ...

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   Who is David motovich?

   • Contact: newsroom@ci.irs.gov A federal jury in Brooklyn convicted David Motovich of perpetrating a years-long scheme to establish and conceal a massive illegal check-cashing operation.

   Brooklyn business owner convicted of operating an unlicensed money

   www.irs.gov/compliance/criminal-investigation/brooklyn-business-owner-convicted-of-operating-an-unlicensed-money-transmitting-business-bank-fraud-money-laundering-and-other-felony-charges

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   How did David Motovich earn $55 million?

   • Prosecutors say that David Motovich, the owner of a Brooklyn lumber yard at 1169 Coney Island Avenue, earned $55 million\. Lumber prices soared during the pandemic, but this doesn't explain the entire source of his earnings.

   Brooklyn Lumber Yard Owner Accused of Check-Cashing Scheme

   therealdeal.com/2021/08/26/lumber-yard-owner-accused-of-check-cashing-scheme/

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   How did motovich get rich?

   • “Motovich operated an illegal money transmitting business that funneled millions of dollars to himself to get rich, evade taxes and fund a lavish lifestyle of luxury cars, jewelry and a spectacular penthouse apartment. With today’s verdict, the defendant finds there is a very high price to pay for his blatant disregard for the law.”

   Brooklyn business owner convicted of operating an unlicensed money

   www.irs.gov/compliance/criminal-investigation/brooklyn-business-owner-convicted-of-operating-an-unlicensed-money-transmitting-business-bank-fraud-money-laundering-and-other-felony-charges

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   Why did motovich create shell companies?

   • In furtherance of his scheme, Motovich created shell companies for the sole purpose of facilitating his illegal check cashing business and instructed his customers to issue checks drawn against their business accounts and make the checks payable to one of the companies.

   Eastern District of New York | Brooklyn Business Owner Convicted of

   www.justice.gov/usao-edny/pr/brooklyn-business-owner-convicted-operating-unlicensed-money-transmitting-business

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   Who are the defendants in motovich's case?

   • Motovich faces up to 30 years behind bars at sentencing. He is represented by Jessica Layden and Randall Wade Jackson of Wachtell, Lipton, Rosen & Katz; Jason Ser, Ilana Haramati and Henry Mazurek of Meister Seelig & Fein; Priya Pasricha of Hoguet Newman Regal & Kenney; and Kaela Dahan and Mark Bini of Reed Smith.

   David Motovich Convicted in $55 Million Check-Cashing Scheme | New …

   www.law.com/newyorklawjournal/2024/07/31/brooklyn-man-convicted-of-running-55-million-check-cashing-scheme/

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   Who are the customers of motovich's illegal check cashing business?

   • The customers of Motovich’s illegal check cashing business are primarily the owners and operators of construction companies who pay their employees in cash to avoid having to pay state and federal employment taxes, including taxes owed under the Federal Income Contributions Act.

   Eastern District of New York - Department of Justice

   www.justice.gov/usao-edny/pr/brooklyn-business-owner-charged-bank-fraud-identity-theft-and-witness-tampering

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3. www.irs.gov › compliance › criminal-investigationBrooklyn business owner convicted of operating an unlicensed ...

   www.irs.gov › compliance › criminal-investigation

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   Jul 30, 2024 · A federal jury in Brooklyn convicted David Motovich of perpetrating a years-long scheme to establish and conceal a massive illegal check-cashing operation. Motovich was found guilty on 16 counts of an indictment charging him with operating an illegal money transmitting business, failure to file currency transaction reports, bank fraud ...

4. finchannel.com › brooklyn-man-maintained-shellBrooklyn Man Maintained Shell Accounts to Conceal $55 Million ...

   finchannel.com › brooklyn-man-maintained-shell

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   Aug 1, 2024 · The FINANCIAL — A federal jury in Brooklyn today convicted David Motovich of perpetrating a years-long scheme to establish and conceal a massive illegal check-cashing operation.

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6. www.justice.gov › usao-edny › prBrooklyn Business Owner Convicted of Operating an Unlicensed ...

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   Jul 30, 2024 · A federal jury in Brooklyn today convicted David Motovich of perpetrating a years-long scheme to establish and conceal a massive illegal check-cashing operation.

7. brooklyneagle.com › articles › 2024/08/01A Brooklyn business owner's $55M illegal check-cashing scheme

   brooklyneagle.com › articles › 2024/08/01

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   Aug 1, 2024 · A federal jury convicted Motovich on Wednesday for operating an unlicensed money transmitting business, bank fraud, money laundering, and other felony charges.

8. therealdeal.com › new-york › 2021/08/26Lumber yard owner accused of check-cashing scheme - The Real Deal

   therealdeal.com › new-york › 2021/08/26

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   Aug 26, 2021 · David Motovich, 46, has been charged with running a check-cashing scheme and spending his ill-gotten money on real estate, apartment renovations and more.

9. www.law.com › newyorklawjournal › 2024/07/31Brooklyn Man Convicted of Running $55 Million Check-Cashing ...

   www.law.com › newyorklawjournal › 2024/07/31

   • Cached

   Jul 31, 2024 · David Motovich was convicted of operating an illegal money-transmitting business, failure to file currency transaction reports, bank fraud, conspiracy to commit bank fraud, money...

10. www.justice.gov › usao-edny › prBrooklyn Business Owner Charged with Bank Fraud, Identity ...

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    Aug 24, 2021 · A complaint was unsealed today in federal court in Brooklyn charging David Motovich, principal of a lumber and construction materials business, with bank fraud, aggravated identity theft and witness tampering.