Dearborn resident Ali Rameh Bazzi pleaded guilty today to wire fraud and money laundering arising out of a $500,000 investment fraud scheme, announced acting United States Attorney Saima S. Mohsin.
Joining in the announcement were Special Agent in Charge Timothy Waters of the Federal Bureau of Investigation and Acting Special Agent in Charge Brian Thomas of the Internal Revenue Service-Criminal Investigations.
Ali Rameh Bazzi, 26, pleaded guilty to one count of wire fraud arising from his scheme to defraud investors out of approximately $500,000. Bazzi also pleaded guilty to one count of money laundering, the result of financial transactions he engaged in with the fraudulently obtained funds.
Acting United States Attorney Mohsin stated “Bazzi told his victims that he was investing their money in foreign exchange and commodity markets. In fact, he used their money to line his own pockets, and lied to his victims over and over again in order…