Bank-fraud scam alleged in Denver and Aurora

Investigators say 700 people were involved in a Denver-based scheme run by Russian immigrants, with losses topping $80 million.
By Felisa Cardona
The Denver Post
Posted: 08/15/2009 01:00:00 AM MDT


A alleged massive organized bank-fraud scheme involving 16 Russian immigrants was busted by federal agents Friday, with 15 raids at several locations, including an Aurora auto dealership and a Denver medical-marijuana business.

Federal agents said the Denver-based scheme led to losses of more than $80 million and involved 700 people — mostly students in the U.S. on visas who were recruited by the criminal enterprise.

Described by authorities as a "bust out" scam, the allegations involved using the identity and credit line of a business to obtain loans and goods with no intention of repaying the money or paying for the merchandise, according to the case affidavit unsealed Friday. Additionally, some of the 700 obtained credit cards to buy luxury items with no intention of paying for them, while others took out cash loans without repaying, it is alleged.

As part of the investigation, federal agents searched CannaMed, a medical-marijuana dispensary on Leetsdale Drive in Denver. But medical marijuana was not the focus of the search or the investigation, said Jeff Dorschner, spokesman for the Colorado U.S. attorney's office.

"The focus of the investigation is fraud and has nothing to do with medical marijuana, and there is no link to the initial investigation and medical marijuana," he said.

Medical marijuana is legal in Colorado. But under federal law, once a federal agent comes in contact with marijuana, the plants must be seized because the drug is illegal.

A person involved with the medical-marijuana dispensary is potentially involved in unrelated criminal conduct, according to a source close to the investigation.

Federal Bureau of Investigation agents also came in contact with a marijuana-growing operation at another home that was searched Friday.

Maaliki Motors on South Havana Street in Aurora was raided as well, but the business was searched solely because some of the suspect credit cards were used there to purchase vehicles, according to the affidavit.

Valeria Igorevna Glukhova, 22, used a Washington Mutual credit card on Sept. 22, 2008, at the dealership and spent $10,000 on a 2005 Lexus RX 330, court records say. Glukhova has not been arrested.

Four women were arrested during the bust, but only two were in U.S. District Court in Denver on Friday for an initial appearance.

Natallia Vishnevskaya, 26, and Nadezda Nikitina, 23, remained in custody and through a Russian interpreter were told by U.S. Magistrate Judge Michael Hegarty that they have a detention hearing Wednesday to determine whether they should be released on bail.

Vishnevskaya and Nikitina are each charged with bank fraud and submitting a false and fraudulent application for credit. The charges carry maximum terms of 30 years in prison.

The court documents say that Nikitina formed a business, A&N Enterprises, and filed articles of organization with the Colorado Secretary of State.

However, the Colorado Department of Labor reported that she did not have any employment income at the time she filled out applications for credit on which she said she earned $180,000 a year.

In May 2008, Nikitina tried to buy Jet Skis at Vickery Motorsports, and the store denied her loan application when it saw the number of loans on her credit reports.

Susan Ghardashyan, 69, and Seda Sahakyan, 77, were taken to a medical facility after their arrests. They may make an initial appearance in court next week, but the charges against them were unavailable Friday.

Court documents say Ghardashyan spent $20,300 at Maaliki Motors from February to April using a Target National Bank Card and another $10,000 on a Nordstrom card at the dealership. In late February, two attempts were made at charging another $21,000 to the Nordstrom card at Maaliki, but the charges were declined, the records show.

Dorschner declined to comment on whether anyone involved in the businesses knew that the cards were being used fraudulently.