Los Angeles Man Admits Conspiring to Launder Money

NEWARK, N.J. - A California man today admitted conspiring to launder money obtained from internet-related fraud, U.S. Attorney Philip R. Sellinger announced.

Charles Singleton, 64, of Los Angeles, California, pleaded guilty before U.S. District Judge Madeline Cox Arleo to an indictment charging him with one count of conspiracy to commit money laundering (Count One).

According to documents filed in this case and statements made in court:

From September 2018 to August 2020, Singleton worked with conspirators to launder money obtained through business email compromises, a method of wire fraud often targeting businesses or individuals working on business transactions involving high-dollar wire transactions. The fraud is carried out by compromising, hacking, or "spoofing" legitimate email accounts through social engineering or computer intrusion techniques to cause employees of a target company, or other individuals involved in legitimate business transactions, to conduct unauthorized transfers of funds, most often to accounts controlled by the fraud perpetrators.

Singleton opened several business bank accounts in the names of companies he controlled and received proceeds of wire fraud in those accounts. Singleton and his conspirators then withdrew and transferred money from various bank accounts and shared among themselves the account information of bank accounts. Singleton also executed at least one fraudulent contract with a conspirator for a wire of $70,000. As part of the plea, Singleton agreed to forfeit over $1.1 million constituting proceeds derived from the conspiracy.

The charge of money laundering conspiracy carries a maximum term of 20 years in prison and a fine of up to $500,000 or twice the value of the funds involved in the transfer, whichever is greater. Sentencing is scheduled for Jan. 28, 2025.

U.S. Attorney Sellinger credited special agents of the FBI, Woodland Park Office, under the direction of Special Agent in Charge James E. Dennehy in Newark, with the investigation leading to the guilty plea.

The government is represented by Assistant U.S. Attorney Farhana C. Melo of the U.S. Attorney's Office's Criminal Division in Newark.