Former Princeton man indicted in alleged multi-million dollar fraud scheme
TRENTON – A former Princeton man has been indicted by a federal grand jury on multiple charges in connection with a multi-million dollar fraud scheme, U.S. Attorney Philip Sellinger announced.
Ford Graham, 60, formerly of Princeton and now a Virginia resident, was indicted on 14 counts of wire fraud, one count of conspiracy to commit wire fraud, one count of securities fraud, three counts of aggravated identity theft, nine counts of money laundering, and one count of engaging in unlawful money transactions.
“This defendant used multiple schemes to steal millions of dollars from victims,” Sellinger said.
“We allege Graham used a litany of fraud schemes to steal money from his investors,” said FBI Special Agent in Charge James Dennehy. "Our thorough investigation illustrates how he moved from one victim to the next, using millions of dollars to fund his lavish life but not his promised investments. The victims in this case, and thousands of others across the country, are losing incredible amounts of money to fraudsters who only see them as personal piggy banks."
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From December 2012 to September 2013, Graham acted as the owner, chief executive, chairman, manager, and principal member of dozens of corporate entities doing business under an umbrella organization, Vulcan Capital Corporation (Vulcan), according to the indictment.
Acting as a highly successful financier, Graham misappropriated huge amounts of the victim's investment money and used it for his benefit – including international vacations, private school tuition for his children, and more – costing victims over $2.6 million, according to statements made in court.
From December 2017 to February 2018, Graham also allegedly defrauded merchants through fraudulent credit card transactions on stolen credit card numbers. He also submitted false documentation such as fabricated invoices, emails, altered bank statements, and forged signatures, costing victims thousands of dollars, according to court papers.
From February 2017 to June 2018, Graham also allegedly used a business email compromise scheme to defraud institutions and individuals out of at least $6 million.
Members of Graham's conspiracy sent fraudulent emails with routing and wire transfer instructions which requested victims to send payment to bank accounts controlled by Graham and his conspirators, authorities say.
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This article originally appeared on MyCentralJersey.com: Former Princeton man indicted in alleged multi-million dollar fraud scheme
