Home / Crime and Justice / Jersey Bank Returns $667K to US Justice Department
Jersey Bank Returns $667K to US Justice Department
15 Sep
Summary
- Over $650,000 confiscated from a fraudster's Jersey bank account.
- Funds were deposited by a perpetrator of US medical fraud.
- Proceeds are being returned to the US Department of Justice.
More than $667,000 in funds has been returned by Jersey authorities to the United States Department of Justice. The confiscated money was banked in Jersey by Gustavo Geraldes, who was involved in medical fraud in the US during the Covid pandemic.
Geraldes operated a kickback scheme. This involved telemedicine providers authorizing unnecessary genetic tests at laboratories he partly owned. Following his conviction in April 2022, a judgment was made to surrender $2.64 million in traceable crime proceeds.
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