In an indictment that points to a betrayal of fiduciary trust, Jordan Khammar, former Financial Director of a prominent multinational consulting company, stands accused of pilfering more than $8.2 million from his employer through a diligent scheme of wire fraud and money laundering that lasted ten years. Khammar, apprehended this morning in Columbus, Ohio, faces serious charges following the unsealing of the indictment at the federal court in Brooklyn, as reported by the U.S. Attorney's Office for the Eastern District of New York.
United States Attorney Joseph Nocella, Jr., alongside IRS-CI New York's Special Agent in Charge Harry T. Chavis, Jr., highlighted that Khammar, who was entrusted with expansive access to the company's financial operations, used his position to funnel company funds into his personal accounts, in a statement obtained by the U.S. Attorney's Office for the Eastern District of New York, Nocella said, "As alleged, for over a decade and on hundreds of occasions, Khammar betrayed his employer’s trust and took advantage of his access to its financial systems for personal gain," showcasing the prolonged and calculated nature of the fraud, as per the U.S. Attorney's Office.
Khammar's devious financial maneuvers involved creating fictitious ledger entries and obfuscating the company's internal records, effectively disguising massive fund transfers to his owned and controlled business, Olive Tree Ventures Inc. The ill-gotten gains, according to the indictment, were further distributed to various entities, including Khammar’s media production venture, Sideswipe Media, Inc., and used for varied personal expenses like real estate acquisitions and lifestyle expenditures.
The indictment further details an intricate web of deceitful transactions where Khammar channelled the embezzled funds into multiple business initiatives and personal indulgences, such as disbursing $3.2 million to sustain Sideswipe’s payroll, and down to more granular misappropriations, like spending tens of thousands on furniture, travel, meals, and utilities, alongside ostentatious credit card payments totaling $1.2 million; these allegations form a mosaic of misdeeds that have now culminated in potential prison time, up to 20 years if convicted of the charges. Prosecutors Jonathan P. Lax and Dana Rehnquist from the Business and Securities Fraud Section are handling the case, with Claire S. Kedeshian of the Office's Asset Recovery Section spearheading forfeiture matters as detailed by the Justice Department.
