Kenyan Man Sentenced to 11 Years in US for Fake Loans Fraud
Conviction and Sentencing
Paul Maucha, a 59-year-old Kenyan, receives an 11-year prison sentence in the United States. The US Department of Justice stated that Maucha operated a fraudulent loan company called American Eagle Services Group Inc (AESG).
Fraudulent Scheme
Maucha promised loans to clients in exchange for advance fees. He falsely assured refunds if funds weren’t provided, despite knowing his company lacked capital. Prosecution revealed Maucha and an accomplice kept advanced fees for themselves.
Legal Proceedings
On February 1, 2024, Maucha was convicted of conspiracy to commit wire fraud, two counts of wire fraud, and engaging in monetary transactions. The FBI and Homeland Security Investigations led the case.
Legal Consequences
In the US, those involved in conspiracy and wire fraud can face up to 20 years in prison for each charge.
