Overview
- Atharva Shailesh Sathawane, 23, was sentenced to 18 years after a jury conviction for conspiracy to commit wire fraud and money laundering.
- Prosecutors said he acted as a courier in a transnational scheme that persuaded seniors to liquidate retirement savings into cash or gold for pickup.
- He operated mainly from Florida and made at least 33 trips over four months, traveling to Pennsylvania, Virginia, New Jersey, and New York.
- According to court records, he laundered $6,615,484.66 and attempted to collect another $1,363,395.98 before an undercover operation led to his arrest.
- Officials noted he had overstayed a student visa, and the FBI and IRS CI warned of rising gold-bar scams as social-media commentators amplified the case with inflated figures.