Former Westfield man sentenced in money laundering for projects in Saudi Arabia
Jan 15, 2025
SPRINGFIELD, Mass. (WWLP) - A former Westfield man was sentenced to prison for his connection with a scheme involving over $9 million in loans for projects in Saudi Arabia.
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The Department of Justice states that 63-year-old Hanibal Tayeh of Thomaston, Connecticut used fake documents, misrepresentations, and several corporate entities to receive a $9.1 million loan package and a $400,000 extension of credit from a bank in 2013 and 2014.
The fake documents and misrepresentations were connected to a business venture Tayeh was pursuing in Saudi Arabia. He also financially defrauded a person by making misrepresentations related to construction projects he was also pursuing in Saudi Arabia.
Tayeh then laundered the proceeds of his schemes through payments made to third parties for personal use. He also made a false statement during a bankruptcy proceeding when he denied knowing about a fake letter of credit he created.
Tayeh pleaded guilty in August to a superseding indictment with two counts of bank fraud, four counts of wire fraud, three counts of money laundering and one count of making a false bankruptcy declaration. He was sentenced to 27 months in prison, followed by five years of supervised release.
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