A Canadian national has admitted to a million-dollar embezzlement plot, pleading guilty in a Boston federal court. Adil Rahman, a 36-year-old from Ontario, engaged in a wire fraud scheme that effectively siphoned more than $1.4 million from his employer and unsuspecting clients, confirmed the U.S. Attorney's Office. Rahman's role as a credit analyst at Company A enabled him to mislead clients into making payments directly to his personal bank account.
According to the U.S. Attorney's Office, between November 2022 and December 2023, Rahman convinced customers of Company A— a subsidiary of an electrical services conglomerate based in Pittsburgh—to make ACH transfers into his personal account instead of the company's. He targeted organizations such a nonprofit in Hartford, Conn., and a corporate security systems company in Andover, Mass., misleading both into transferring substantial sums.
The deceit unfolded over several transactions, with at least 15 ACH transfers from the Connecticut-based nonprofit and another 11 from the Massachusetts security provider. Together, these fraudulent actions defrauded the reputable clients and Rahman's employer of a sum exceeding $1.4 million. The wire fraud charge against Rahman carries a penalty of up to 20 years imprisonment, alongside possible fines and supervised release post-imprisonment.
Sentencing has been scheduled for December 9, 2024, as Senior District Judge William G. Young presides over the case. Rahman was initially charged in July 2024 and has been under investigation by the FBI. Acting U.S. Attorney Joshua S. Levy and the Boston Division's Special Agent in Charge Jodi Cohen have taken the lead on the announcement. The case is being prosecuted by Assistant U.S. Attorney Stephen E. Frank, Chief of the Securities, Financial & Cyber Fraud Unit.
