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Indian citizen arrested on charges of elder fraud, money laundering in US
The scheme targeted elderly people by making them believe that their funds were compromised, and asking them to liquidate assets as cash, gold or gift cards
- PUBLISHED: Sun 23 Aug 2026, 12:42 PM
An Indian citizen has been arrested on charges of wire fraud and money laundering, specifically targeting the elderly, in US. Jay Sunilbharthi Goswami, 21, who is originally from Gujarat, India, was caught attempting to fly to Doha, Qatar from Toronto, Canada, where he fled after his first hearing in US.
The case involved a scheme in which older people were made to believe that their bank accounts or funds were compromised in some way, and were asked to liquidate assets in the form of cash, gold or gift cards.
Money mule
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Goswami was a 'money mule' in this scheme. This meant that when the target of the fraud was asked to liquidate assets in the form of cash or gold, people like Goswami were asked to pick up the money or gold and deliver it to another member of the scheme.
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Here is what the US Attorney's Office of the Western District of New York made known to the public about Goswami's involvement:
On at least nine occasions, he either collected or conspired to collect money and gold from victims in New York and New Jersey
The victims ranged in age from 59 years old to 87 years old
In total, the nine people from whom the assets were collected lost approximately $7,559,185.00
Goswami opened an account at Bank of America, and made deposits of more than $90,000 in cash between August 1, 2025, and April 6, 2026. Investigators believe that this money was payment he earned for being a money mule.
Timeline
The initial complaint was made in January 2026.
Goswami made his first initial appearance before a US magistrate on August 17, 2026, and received a conditional release.
On August 18, 2026, he fled US and crossed into Canada at the Peace Bridge which connects New York and Ontario. He aimed to leave Canada and fly to Doha in Qatar later that evening. At around 7.13pm, Canadian law enforcement officials took Goswami into custody.
On August 20, Canadian authorities arrested Goswami. He is set to be extradited to the US.
