By: Richard L. Smith
Ford Graham, 60, of Princeton, faces charges in a comprehensive 29-count indictment for his involvement in a series of elaborate fraud schemes.
U.S. Attorney Philip Sellinger reported the charges, which include wire fraud, securities fraud, aggravated identity theft, money laundering, and engaging in unlawful money transactions.
Graham is accused of devising numerous fraudulent operations to swindle millions of dollars from both individual and institutional victims.
"This defendant used multiple schemes to steal millions of dollars from victims," U.S. Attorney Sellinger stated, emphasizing the commitment of his office to prosecuting those who exploit the financial system for personal gain.
Investigations led by the FBI and IRS - Criminal Investigation revealed Graham's fraudulent activities spanned from December 2012 to June 2018, during which he misrepresented himself as a successful financier through Vulcan Capital Corporation and its subsidiaries.
He lured victims into investing substantial amounts in energy, natural resources projects, and other ventures, only to misappropriate the funds for personal use, resulting in losses totaling more than $2.6 million.
Additionally, Graham was involved in credit card fraud, processing fraudulent charges on stolen numbers and submitting false documentation to merchant processors, leading to tens of thousands in losses.
Furthermore, federal officials said he engaged in a business email compromise scheme, attempting to defraud victims of at least $6 million by redirecting scheduled wire transfers to bank accounts under his control.
The indictment of Graham sends a strong message of the authorities' dedication to safeguarding the public and the financial system by diligently investigating and holding fraudsters accountable.