Prosecutors described Sathawane as a “courier” in an international scam network. The scheme mainly targeted elderly victims across the United States.
Victims were reportedly convinced to liquidate their retirement savings. They were instructed to convert their funds into cash or gold. Sathawane then collected the money and delivered it to co-conspirators.
Some of those co-conspirators allegedly operated the scheme from India.
Court records state that over a four-month period, Sathawane made at least 33 trips across multiple states, including:
-
Florida
-
Pennsylvania
-
Virginia
-
New Jersey
-
New York
Forensic analysis of his cellphone showed repeated involvement in the fraud operation.
How Much Money Was Stolen?
According to court documents, Sathawane personally collected and laundered more than $6.6 million in stolen cash and gold.
Prosecutors also said he attempted to collect an additional $1.36 million in gold from two victims. Law enforcement officials and alert associates of one victim stopped that transaction before it was completed.
Authorities described the case as part of a growing pattern of fraud schemes that specifically target senior citizens.
Why Elderly Americans Are Often Targeted
Financial scams frequently focus on older individuals because:
-
They may have retirement savings.
-
They may be less familiar with digital fraud tactics.
-
Scammers often use fear-based tactics to pressure quick decisions.
Federal agencies continue to warn seniors and their families to verify any urgent financial demands and report suspicious calls or messages immediately.
Legal Consequences and Immigration Status
The Department of Justice stated that Sathawane had overstayed his student visa and was living in the U.S. without legal status at the time of the offenses.
The 18-year prison sentence reflects the seriousness of the charges, which included conspiracy to commit wire fraud and money laundering.
Federal prosecutors emphasized that international fraud networks will face strict penalties, especially when vulnerable populations are targeted.
A Broader Warning About Financial Fraud
This case highlights the scale of organized fraud schemes and the devastating impact they can have on elderly victims.
Authorities urge families to speak openly about financial safety. Monitoring unusual transactions and educating seniors about common scam tactics can prevent major losses.
Law enforcement agencies across the U.S. continue to investigate similar networks operating across borders.
