Federal Charges Announced for Bank Fraud and Fraud in Naturalization Process

RALEIGH – Robert J. Higdon, Jr., United States Attorney for the Eastern District of North Carolina, announces an Indictment charging JAMAL MOHAMMAD ELEIDY, 57, of Apex, with one count of conspiracy to commit bank fraud, two counts of attempted bank fraud, four counts of bank fraud, and two counts involving false and fraudulent statements in connection with his application for citizenship by naturalization.

According to the allegations in the Indictment, between March 2014 through the date of the Indictment, ELEIDY, and his co-conspirators used synthetic identities to apply for credit cards with at least 18 federally insured banks.   

Synthetic identity fraud is a type of fraud in which various forms of information are combined to create a “new identity.”  The forms of information often include stolen or fictitious SSNs, and/or stolen or fictitious driver’s licenses. The new synthetic identity, or “new identity,” is then used to open financial accounts and secure credit based upon the newly created identity. Once credit is obtained and purchases made, the applicant seldom makes payments to the issuers. 

In the present case, ELEIDY and his co-conspirators are alleged to have applied for credit with synthetic identities on at least 350 different occasions.   It is further alleged that over the course of the conspiracy, the conspirators caused a total loss of over $770,000 to various financial institutions.

In addition, ELEIDY is alleged to have secured his naturalization as a United States citizen contrary to law by making false statements on his naturalization application.

If convicted on all of the charges, ELEIDY would face a maximum penalty of 230 years imprisonment, an $8,040,000 fine, a term of supervised release of not more than 5 years, and restitution.

The charges and allegations contained in the Indictment are merely accusations.  The defendant is presumed innocent unless and until proven guilty in a court of law.

Investigation of this case was conducted by the U.S. Postal Inspection Service, the Federal Bureau of Investigation, the U.S. Department of Homeland Security – Homeland Security Investigations, and the U.S. Department of Health & Human Services – Office of the Inspector General.  Assistant United States Attorney Banumathi Rangarajan is prosecuting the case for the government.