A 17-count indictment has been unsealed, charging Ayman Alaaraj of Sacramento and Ahmad Nassar of Elk Grove with a scheme to defraud. Acting U.S. Attorney Michele Beckwith announced the charges, which include bank fraud and aggravated identity theft. Additionally, Nassar faces charges of access device fraud.
Nassar has a prior conviction from 2019 for unlawfully possessing access devices, aggravated identity theft, and being a felon in possession of a firearm. He was released from prison on March 4, 2021, but is currently in custody following an arrest on February 7, 2024, for allegedly violating supervised release terms. Alaaraj has been ordered to self-surrender.
Court documents indicate that in May 2023, Nassar took over multiple bank accounts belonging to two elderly victims at separate banks using sophisticated techniques like phone number porting to bypass dual-factor authentication protections.
Once control was established over the victims’ accounts, Nassar — sometimes with assistance from Alaaraj — drained the accounts and accrued unpaid credit card debts totaling more than $794,000 in losses. The stolen funds were funneled through pass-through accounts created by Nassar in the victims’ names and through Alaaraj’s businesses: Balance Bookkeeping, Tax and Notary; and Atheer Investments. The money was ultimately disbursed via ATM withdrawals, personal checks, Western Union transactions, Zelle transactions, payments to credit cards, online gambling, and towards purchasing a Mercedes.
The investigation is led by the Federal Bureau of Investigation and the California Department of Justice – Bureau of Gambling Control. Assistant U.S. Attorney Elliot C. Wong is prosecuting.
If convicted, both defendants face severe penalties including up to 30 years in prison and a $1 million fine per count for bank fraud. For aggravated identity theft counts they face two years in prison plus fines up to $250,000 or twice the gross gain or loss involved. Nassar also faces up to 20 years in prison and a $250,000 fine for access device fraud. Sentencing would be determined based on statutory factors and Federal Sentencing Guidelines after conviction.
Charges remain allegations at this stage; both defendants are presumed innocent until proven guilty beyond reasonable doubt.
