A 23-year-old Indian man was sentenced to 18 years in prison after he was found guilty of conspiracy to commit wire fraud and conspiracy to commit money laundering, according to the US Justice Department. Although the news first made headlines following a January 26, 2026, press release by the official US government website, the case resurfaced on the Internet this week after a social media post once again shed light on the massive fraud scheme.

Last month, the US Attorney’s Office, Northern District of Florida, announced the sentence faced by 23-year-old Atharva Shailesh Sathawane, who was also found to have been in the US illegally after overstaying his student visa.

Citing trial evidence and court documents, the Department of Justice’s (DOJ) press release indicated that the Indian man served his role as a “courier in an international fraud scheme” targeting elderly victims.

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How Atharva Shailesh Sathawane’s crimes were uncovered in the US

US authorities particularly praised the brave victims of the crime who came forward to report the fraud, which ultimately put Sathawane on their radar. According to the DOJ’s formal statement, the fraud scheme took place across borders, with some of Atharva’s co-conspirators orchestrating the crime from India.

As part of the scheme, several elderly citizens were convinced to liquidate their retirement accounts to obtain cash, gold or both. Thereafter, Sathawane would approach each victim to take large quantities of their cash and gold, according to the DOJ. Playing the courier’s role in the scheme, he would ultimately deliver those proceeds to others conspiring alongside him.

The scheme particularly came to light after an elderly victim suspected he was being defrauded. And so, he reported the issue to law enforcement, who subsequently launched an undercover operation.

At one point, Atharva Shailesh Sathawane was taken into custody as he arrived at the elderly victim’s house to pick up more gold. A search of his mobile phone confirmed his link to the extensive elder fraud scheme.

Atharva made at least 33 trips to bring gold and cash from the elderly victims over a 4-month period. As per a forensic analysis of the Indian man’s phone, he was also found to have primarily operated out of Florida. Nonetheless, the fraud scheme also had him travel to other states – Pennsylvania, Virginia, New Jersey, and New York.

Indian man linked to elder fraud scheme – Funds lost

FBI Jacksonville Special Agent in Charge Jason Carley ultimately warned citizens that being told to buy gold and then hand it over to a stranger is not an investment, but a scam.

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Further detailing Atharva’s role in the scheme, the official stated, “Mr. Sathawane preyed on his victims’ trust and fear, convincing them to turn over their life savings in gold. Unfortunately, this is a growing trend. In Florida alone, victims lost more than 33 million dollars last year just to gold bar scams. This sentencing is just one step toward justice for the victims in this scheme and the FBI’s efforts to stop this from happening over and over again.”

Meanwhile, Ron Loecker, Special Agent in Charge of IRS Criminal Investigation, Florida Field Office, said, “The defendant’s actions robbed victims of their life savings and financial security. This case highlights the benefits to everyday Americans when local and federal law enforcement work hand in hand to bring criminals to justice and disrupt a network that preyed on the most vulnerable.”

According to the official DOJ press release, Atharva personally took and laundered $6,615,484.66 in cash and gold from the elderly victims. He tried to pick up an additional $1,363,395.98 in gold from two elderly victims. However, his attempts to do so were foiled by the intervention of a concerned friend of a victim in the first instance. During his second attempt, law enforcement arrested him. 

He was convicted in November 2025, while Assistant United States Attorney Adam Hapner prosecuted the case.