An Antelope man was indicted today by a federal grand jury in Sacramento on charges of wire fraud and money laundering.
Leonid Yakovlev, 41, through his corporation 24 Hour Corp., fraudulently charged more than 20,000 American Express cards in small amounts 40,000 separate times, according to the 11-count indictment. As a result, Yakovlev allegedly obtained more than $900,000 in fraud proceeds. He is accused of using some of the money to purchase a residence in Sacramento, resulting in a money laundering charge, according to a federal Department of Justice news release.
The case resulted from investigations by the Internal Revenue Service-Criminal Investigation and the United States Secret Service.