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Illinois Advisor Gets 4+ Years in Jail for Fraud

Illinois Advisor Naseem Salamah has been sentenced to four years and four months in federal prison for financial fraud.

fraud 2695269 640smallSalamah fraudulently obtained a total of more than $968,000 from the accounts of three customers. He told the customers he needed to move the money to diversify their assets, when, in fact, he deposited the money into a bank account that he controlled. Salamah then used the money for his own benefit and without the customers’ knowledge or consent.

U.S. District Judge Iain D. Johnston has also ordered Salamah to pay restitution to the victims in the amount of $968,582.12.

Read the full release from the U.S. Attorney’s Office for the Northern District of Illinois.

 

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