SAN FRANCISCO, April 20, 2005
NRI press
A Santa Clara NRI, Jaswinder Singh Sekhon, 27, faces
federal bank fraud charges today for plotting to use
a phony transportation business and more than 200
stolen credit card numbers to defraud area banks.
He made his initial appearance in court here this
morning following his arrest Monday by U.S. Immigration
and Customs Enforcement (ICE) agents.
According to court documents, Sekhon planned to use
stolen credit card numbers to make charges payable
to the checking account of an Oakland front company
known as Sakshi Small Transportation, which he controlled.
Had this scheme gone unchecked, it could have
resulted in significant losses for the banks involved,
said Mark Wollman, deputy special agent-in-charge
of ICE investigations in San Francisco. Eliminating
vulnerabilities in our nations financial system
that could be exploited by criminal or terrorist organizations
is one of ICEs top enforcement priorities.
ICE launched its investigation in October after receiving
a tip from the fraud division of Wells Fargo Bank
about a similar scheme. In that instance, Sekhon allegedly
defrauded Wells Fargo Bank out of $500,000 in September
2004 using credit card numbers stolen from customers
at a Bay Area gas station. The purchases made on those
cards were funneled into the checking accounts of
two other dummy companies, H & M Tobacco and H
& M Indian Music.
In the ensuing investigation, ICE agents learned
about this latest scheme in which Sekhon allegedly
planned to target three major banks, Wells Fargo Bank,
Bank of America, and US Bank. According to court documents,
Sekhon arranged to be smuggled into the United States
in March to carry out the plan. ICE alerted the three
banks, enabling them to institute safety measures
to protect against the thefts.
Sekhon is currently charged with one count of bank
fraud, (18 USC 1344). The case is being prosecuted
by the Oakland office of the United States Attorney
for the Northern District of California. ICE also
received substantial assistance in the investigation
from the U.S. Secret Service, the Federal Bureau of
Investigation, and the U.S. Postal Inspection Service.
At todays court session, U.S. District Court
Magistrate Judge Wayne D. Brazil set Sekhons
bond hearing for Friday. In addition, ICE has filed
an immigration detainer against Sekhon ensuring he
will be turned over to ICE upon completion of any
criminal proceedings. Sekhon, who was born in India,
is currently a national of Finland.