Brooklyn jury convicts business owner for yearslong 'illegal check-cashing operation'
Motovich is facing 16 counts of an indictment including brank fraud, money laundering and other felony charges.
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A Brooklyn business owner has been convicted of operating an unlicensed money transmitting business, according to the U.S Attorney's Office.
Officials say a jury in Brooklyn convicted 49-year-old David Motovich of a yearslong scheme to establish and conceal a massive illegal check-cashing operation including. Officials say he used his family-run business in Midwood as a front for his operation.
Motovich is facing 16 counts of an indictment including brank fraud, money laundering and other felony charges. When sentenced, he will face up to 30 years in prison. Three other co-defendants all pleaded guilty and are also facing various charges.
Officials say Motovich deposited more than $55 million between 2012 and 2019 into shell accounts. He used the money to purchase jewelry, real estate, luxury vehicles and renovate his penthouse apartment on the upper east side.
