In a significant crackdown on alleged fraud within Illinois' Unclaimed Property Program, Attorney General Kwame Raoul has brought charges against a Chicago man suspected of illicitly procuring over $500,000. The man, Shaheed Tamir, 41, stands accused of filing fraudulent claims on behalf of two companies to siphon off considerable funds meant to be safeguarded by the program. Tamir faces three counts of theft of government property over $100,000 and 14 counts of forgery, with his next court appearance slated for February 6, as noted in a statement from the attorney general's office. These developments, reported on December 11th, have brought to light the risks associated with managing unclaimed funds.
Allegations by Raoul's office detail that between April 2018 and February 2021, Tamir misrepresented himself as a manager of two entities, Botta Capital Management LLC and New Edge LLC. Intending to collect money that didn't belong to him, the claims he is purported to have filed are believed to be fraudulent. Attempting to bring this case to justice, these charges reflect Raoul's ongoing commitment to collaborating with other agencies, as he mentioned, "Anyone who fraudulently claims property through Illinois’ Unclaimed Property Program is stealing from the people of Illinois as well as the rightful owners of that property.”
Illinois Treasurer Michael Frerichs' office, which oversees the Unclaimed Property Division, first flagged the suspicious claims that led to the investigation. Frerichs lauded the increased theft-prevention measures and the collaboration resulting in these charges, stating, “We take our duty to guard unclaimed property seriously. These charges are evidence that our increased theft-prevention efforts are working.” The Secretary of State's office has also played a role in supporting this case.
Earlier in April of this past year, Raoul's office had filed similar indictments against Tamir, regarding his alleged attempts to divert over $100,000 in unclaimed property from another company, Wittek Corp. In this ongoing case, Tamir faces various charges including attempted theft of government money and additional counts of forgery, mail fraud, and wire fraud.
