By Redaccion
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A woman from Georgia has been sentenced in a Ventura County court for her role in a complex real estate wire fraud scheme, according to an announcement from District Attorney Erik Nasarenko.
Jasmine Shante Faniel, 39, also known by the alias Teresa Dennis, received her sentencing on October 30, 2024. She will serve nine months in jail, spend two years on formal probation, and is required to pay restitution to the victims affected by the scheme.
Faniel’s sentencing comes as part of a larger crackdown on real estate wire fraud, a type of cybercrime that targets vulnerable transactions in property sales. In these schemes, criminals impersonate trusted parties in real estate transactions, such as escrow officers, agents, and title representatives, to gain access to sensitive financial information. The fraud often originates from outside the United States, where hackers compromise emails and other communications between legitimate parties in the transaction. Once they gain access, the fraudsters redirect large sums of money, including buyers’ closing funds, sellers’ proceeds, lender payments, and commissions, into fraudulent accounts.
Investigators describe the scheme as highly coordinated, often involving international networks of scammers who rely on a chain of accomplices known as “money mules.” These mules, typically lower-level participants in the scheme, open accounts in their own names or aliases to receive and transfer the stolen funds, eventually laundering the money for the primary perpetrators, who are usually based overseas.
In March 2023, while using the name Teresa Dennis, Faniel opened multiple bank accounts in Georgia specifically to facilitate these types of transactions. According to the Ventura County District Attorney’s Office, she acted as a money mule in a case involving a local family who were attempting to buy their first home. The family became victims of the fraud scheme after Faniel and a co-defendant, Abdoul Aziz Bah, intercepted their closing funds. Faniel retained a small portion of the $201,000 stolen, while the rest was wired to Nigeria, where it was allegedly laundered through international car auctions.
Faniel’s co-defendant, Bah, received his sentencing on September 26, 2024. He was ordered to serve one year in jail, two years of probation, and to make full restitution to the defrauded family. As part of his plea agreement, Bah paid an initial $5,000 as partial restitution before sentencing. Authorities say that both Faniel and Bah acted as intermediaries, facilitating the transfer of stolen funds to international locations where they were funneled into various laundering schemes.
The Ventura County District Attorney’s Real Estate Fraud Unit (REFU) led the investigation. According to Senior Deputy District Attorney Dominic Kardum, the unit traced $33,500 of the stolen funds to a bank account in Georgia that Faniel had opened under her alias. Following her guilty plea on September 26, 2024, the DA’s office secured a court order to return these funds to the victims as partial restitution. In total, $38,500 has been recovered and returned to the defrauded family, though a significant portion of the stolen money remains unaccounted for.
“This case is a clear reminder to always verify wire transfer requests by making a phone call to a known party involved in the transaction,” said Kardum. “It’s critical to speak directly with someone you know before wiring any funds to ensure the request is legitimate.”
Faniel and Bah’s apprehension and conviction were the result of a coordinated effort between the Real Estate Fraud Unit and the Ventura County Sheriff’s Fugitive Unit, which assisted with the extradition process to bring the defendants from Georgia to Ventura County.
Real estate wire fraud has become an increasingly prevalent issue across the United States, with scammers often leveraging sophisticated techniques to deceive homebuyers, sellers, and real estate professionals. According to the FBI, wire fraud in the real estate sector accounted for millions in losses in 2023 alone. Schemes like these exploit vulnerabilities in digital communications and prey on unsuspecting individuals involved in real estate transactions.
The District Attorney’s Office advises anyone involved in real estate transactions to be vigilant. Fraudsters typically monitor digital communications between parties, looking for opportunities to intercept funds. Before transferring any money, it is crucial for buyers and sellers to take preventive steps, including verifying details through secure means and establishing contact with trusted members of the transaction team.
Both Faniel and Bah will continue to be monitored by the authorities as they serve their sentences and pay restitution. Their cases underscore the need for greater awareness of real estate wire fraud and the importance of safeguarding sensitive financial transactions in the property market. The Ventura County District Attorney’s Office Real Estate Fraud Unit remains committed to pursuing justice for victims of such schemes and enhancing protective measures to prevent future incidents.
