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HomeLocal / Area NewsMONEY LAUNDERING OPERATION WITH INTERNATIONAL TIES BUSTED

MONEY LAUNDERING OPERATION WITH INTERNATIONAL TIES BUSTED

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Last Thursday, the owners of New Caney Recycling contacted the Precinct 4 Constable’s Office regarding a possible employee theft of approximately $200,000.

 

New Caney Recycling, located at 21227 US 59 in New Caney, profits by purchasing small amounts of scrap metal from a large customer base and later selling the accumulated metal to a larger scrap metal company at a higher cost. While their records indicated they had purchased a significantly larger amount of scrap metal than usual, their inventory of metal on-site revealed a tremendous shortage by comparison.

A review of the business’s video surveillance footage showed one employee engaging in suspicious activity that did not follow their established protocol. Closer scrutiny of the footage further implicated the employee.

 

On Friday, members of the Precinct 4 Constable’s Office conducted a preliminary investigation and reviewed the surveillance video. They determined the employee was using ID’s from actual customers to create tickets indicating additional metal was purchased from those persons. However, there was no additional metal and he kept the money.

 

On Saturday, the third day of the investigation, deputies obtained an arrest warrant for Shabbir Hussain, the employee implicated in the video. He said he spent some of the money, deposited some in multiple U.S. bank accounts, and transferred $90,000 to $100,000 of U.S. currency to Pakistan.

After many hours of interrogation, he admitted to sending over $100,000 to his family in Karachi, Pakistan. The money was said to have been used to purchase homes for his family there. Investigators found no evidence to lead them to any type of terrorism.

The remainder was used to buy electronics, televisions, computers, and stereo equipment. Also jewelry for his wife who was told by Hussain that he had won the lottery. They recovered close to $15,000 in merchandise from his home.

Over $30,000 was also in accounts and safety deposit boxes in several different banks around the Houston area.

Monday investigators removed Hussain from his jail cell where he is being held on a $600,000 bond for theft of property over $100,000 and for money laundering.

After removing him he was transported to his home in west Houston when he gave deputies access to the equipment and the location in the home of the jewelry.

Again on Tuesday investigators with Montgomery County Precinct 4 Constables, Office took Hussain to Bank of America on West Belfort. Once there he has escorted inside complete in jail striped clothing, handcuffs, and shackles. Almost $30,000 was recovered therefrom safety deposit boxes and accounts. Bank of America officials cooperated with the unusual request and Hussain being brought into the bank.

Next, they traveled to Amergy Bank on West Belfort and US 59. There bank officials were not very accommodating  After over an hour they refused to allow Hussain to remove the funds from his accounts due to him being in custody.

A warrant will now have to be issued to recover those stolen funds.

Owners of the business in New Caney were not able to believe how quickly investigators were able to recover the amount of funds they did.

Hussain, who is an American citizen who has no prior records was deeply trusted by his employer.

 

http://youtu.be/b0v09_M6PIQ

 

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