ATTORNEY GENERAL RAOUL CHARGES MAN FOR ALLEGEDLY STEALING MORE THAN $500,000 FROM ILLINOIS UNCLAIMED PROPERTY PROGRAM

ATTORNEY GENERAL RAOUL CHARGES MAN FOR ALLEGEDLY STEALING MORE THAN $500,000 FROM ILLINOIS UNCLAIMED PROPERTY PROGRAM

December 11, 2024

Raoul Charged Cook County Man Earlier this Year for Alleged Unclaimed Property Theft

Chicago - Attorney General Kwame Raoul today charged a Chicago man for allegedly stealing over half a million dollars in unclaimed property from Illinois' Unclaimed Property Program by filing fraudulent claims with Illinois State Treasure Michael Frerichs' Unclaimed Property Division on behalf of two companies. Raoul's office also filed similar charges against Shaheed Tamir, 41, earlier this year for allegedly attempting to steal over $100,000 in unclaimed property from a third company.

The Attorney General's office charged Tamir with three counts of theft of government property of over $100,000, Class X felonies punishable by up to 30 years in prison; and 14 counts of forgery, Class 3 felonies punishable by up to five years in prison. Tamir's next court date is Feb. 6. All sentences are ultimately determined by the court.

"Anyone who fraudulently claims property through Illinois' Unclaimed Property Program is stealing from the people of Illinois as well as the rightful owners of that property," Raoul said. "I will continue to collaborate with Treasurer Frerichs and law enforcement agencies to investigate and hold individuals accountable for stealing from this program and Illinois residents and businesses."

The investigation was opened after Frerichs' Unclaimed Property Division flagged the paid claims as being potentially fraudulent. The Illinois Secretary of State also assisted in this case.

"We take our duty to guard unclaimed property seriously. These charges are evidence that our increased theft-prevention efforts are working," said Frerichs. "I appreciate the professionalism of Attorney General Raoul to bring this case to justice and the General Assembly for providing us the resources to upgrade our fraud prevention systems."

Raoul's office alleges that between April 2018 and February 2021, Tamir falsely claimed to be a manager of Botta Capital Management LLC and New Edge LLC. Tamir allegedly filed annual reports with the Secretary of State on behalf of both companies before filing fraudulent claim forms with Frerichs' Unclaimed Property Division to collect more than $500,000 in unclaimed money.

In April 2024, Raoul's office filed a similar indictment against Tamir for allegedly attempting to collect unclaimed property on behalf of Wittek Corp. He was charged with attempted theft of government money of over $100,000, a Class 1 felony punishable by up to 15 years in prison; two counts of forgery, two counts of mail fraud and two counts of wire fraud, all Class 3 felonies punishable up to five years in prison. This case is still pending in Cook County.

The public is reminded the defendant is presumed innocent until proven guilty in a court of law.

Deputy Bureau Chief John Brassil is prosecuting the case for Raoul's Special Prosecutions Bureau.