Man Pleads Guilty To Laundering $2M Of Fraudulent Proceeds

BALTIMORE (AP) -- A Glen Burnie man has pleaded guilty to laundering more than $2 million obtained through various scams, including conspirators posing as IRS agents and demanding that victims pay taxes they didn't owe.

Prosecutors say in a news release that 43-year-old Kaushik Modi, a native of India living in the U.S. illegally, entered the plea Tuesday in federal court in Baltimore.

According to his plea agreement, Modi bought prepaid debit cards, which conspirators loaded with money obtained in several scams.

Authorities say one scam involved people posing as IRS agents and calling victims to demand immediate payment for taxes they did not owe. The victims loaded the money onto the prepaid debit cards held in Modi's name.

Modi faces a maximum of 20 years in prison at sentencing on May 12.

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