USA- New York-based Guyanese woman pleads guilty to US$1.7 million bank fraud

A Guyanese woman has pleaded guilty to a more than decade-long conspiracy to commit bank fraud, defrauding her employer, a Manhattan-based bank, by misappropriating approximately $1.7 million.

Audrey Strauss, the United States Attorney for the Southern District of New York, announced that Gangadai Rampersaud Azim, also known as Julie Azim, pled guilty before U.S. District Judge Katherine Polk Failla.         

PLEADS GUILTY

“As she admitted today, Gangadai Azim betrayed her position as a trusted bank employee to defraud the bank and misappropriate nearly $1.7 million in client funds over the course of more than a dozen years.  Now Azim awaits sentencing for her crime,” the US Department of Justice quoted Manhattan U.S. Attorney Audrey Strauss as saying.

According to the allegations in the Complaint, court filings, and statements made during plea proceedings:

Between August 2008 and January 2021, Azim, a long-time employee of a New York, New York-based bank (“Bank-1”), stole approximately $1.7 million from her employer.  Over the course of approximately 12 years, Azim executed hundreds of wire transfers of Bank-1 funds to co-conspirators and related companies, who then sent portions of the ill-gotten funds to AZIM’s personal bank account.

In furtherance of her scheme to defraud Bank-1, Azim repeatedly made false entries in Bank-1’s systems, misappropriating funds paid to Bank-1 by its clients to satisfy outstanding loan obligations and then extending the maturity dates of those loan obligations, making it appear as though the loan obligations had not yet been paid.  When even the fraudulently extended maturity dates came due, Azim originated new, fraudulent loans to help conceal the scheme.  AZIM utilized the proceeds of those fraudulent loans to satisfy the loans for which she had previously stolen the client payments.  Over the course of the approximately 12 years, Azim caused approximately 200 improper wire transfers of Bank-1’s funds, each for an amount under $10,000,  to be sent to third party accounts, including those of co-conspirators and related companies, which then returned portions of those funds to AZIM.  In doing so, AZIM abused her position at Bank-1 and enriched herself at the expense of her employer.

Azim, 58, of Richmond Hill, New York, pled guilty to one count of conspiring to commit bank fraud, in violation of 18 U.S.C. §1349, which carries a maximum sentence of 30 years in prison.  The maximum potential sentence in this case is prescribed by Congress and is provided here for informational purposes only, as any sentencing of the defendant will be determined by the judge.

AZIM is scheduled to be sentenced by Judge Failla on October 19, 2021, at 3:30 p.m.

Ms. Strauss praised the outstanding investigative work of the Federal Bureau of Investigation in this case.

The case is being prosecuted by the Office’s Complex Frauds and Cybercrime Unit.  Assistant U.S. Attorney Katherine Reilly is in charge of the prosecution.

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Comments

  • Dennis Albert  On 07/02/2021 at 6:31 am

    US$1.7M cyant even buy a plot of land in Pradoville these days.

    Now she name smeared on the media as the little fish. The biggest thief in the world is the Wall st bankers.

    • the only  On 07/02/2021 at 12:01 pm

      Soon they will name a street in Queens after her.

      • Dennis Albert  On 07/02/2021 at 5:24 pm

        A plot of land at Ogle starts from US$7M these days. Guyanese living in the ABCEU countries have to change their retirement plans if they plan to return and live their Golden years.

        Embezzling US$1.7M is too small. Aim for US$17M as a retirement fund.

  • Kman  On 07/03/2021 at 8:20 am

    Dennis, where did you get these prices from?

    • Dennis Albert  On 07/03/2021 at 11:08 am

      It’s what the Portuguese man does sell to dem oil companies. The prices at Houston Estates are more dear than South France villas.

      • Kman  On 07/03/2021 at 12:11 pm

        I think da man pulling yuh leg, lol

      • Dennis Albert  On 07/03/2021 at 11:57 pm

        Go down to Century 21 at Pegasus and they will tell you the prices. Dem Hong Kong investors don’t play with money. They even offering US$500,000 for land at Parika and Vreed-en-Hoop.

      • guyaneseonline  On 07/04/2021 at 6:50 am

        What does this entry from you have to do with the subject matter of the Blog entry?
        Please address the subjects under discussion
        Thank you.
        Moderator

      • Bernard  On 07/04/2021 at 11:33 am

        Dennis Albert, are you (or have you ever been) taking medication for mental illness?

        You are really a trouble maker who contributes nothing positive to the site. If you keep it up, the Moderator would be entirely justified to ban you.

        Bernard

      • Dennis Albert  On 07/05/2021 at 1:47 am

        Bernard, nothing is positive with the PPP.
        The PPP DNA is to thief, embezzle and fraud, just like the supporter in NYC.

  • wally n  On 07/04/2021 at 2:17 pm

    Just me….. blame the Government……free computers in the nut house???….now we all have to live with it.

  • Dennis Albert  On 07/04/2021 at 5:46 pm

    Many American-based Guyanese who commit fraud launder the monies into Guyana, that’s my hypothesis.

  • wally n  On 07/04/2021 at 6:47 pm

    OK OK….now that everyone knows, you hate almost everyone, who are the lucky people you like, please tell us so we won’t irritate you again.please…..

    • Dennis Albert  On 07/05/2021 at 1:44 am

      Dem 8 to 12 storey buildings across GT are products of money laundering, drugs money and fraud.

      That US$1.7 M was destined to build another ocean front mansion in Sparendaam I know that.

      Where else would an embezzler park the stolen money? Russia? Poland? China?

      There is a rush from many Guyanese living overseas to get in de action with the PPP, which is either through embezzlement, insurance fraud and transporting drugs.

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