Sanbornville Man Pleads Guilty to Money Laundering Charges in Connection to Romance Scams Targeting the Elderly

CONCORD – A Sanbornville man pleaded guilty today in federal court in connection to his role in a romance-scam money laundering scheme, U.S. Attorney Jane E. Young announces.

Steven Ferrill, 72, waived his right to indictment and pleaded guilty to an information charging one count of concealment money laundering.  U.S. District Court Judge Joseph Laplante scheduled sentencing for January 26, 2024.  

In October 2019, federal agents approached Ferrill to question him about financial transactions totaling more than $1 million involving his bank accounts.  The Federal Bureau of Investigation (FBI) provided the defendant a “money mule” warning letter, which explicitly warned him that engaging in wire transfers on behalf of people he did not know could facilitate fraudulent schemes and expose him to criminal liability.  Despite the warning, the defendant continued to engage in transactions involving victims of romance scams. For example, in February 2020, Ferrill facilitated a wire transfer to his bank account from a victim, which he then re-routed overseas.

The charging statute provides a sentence of no greater than 10 years in prison, 3 years of supervised release, a fine of $250,000 and restitution.  Sentences are imposed by a federal district court judge based upon the U.S. Sentencing Guidelines and statutes which govern the determination of a sentence in a criminal case.

The Federal Bureau of Investigation led the investigation.  Assistant U.S. Attorney Charles L. Rombeau is prosecuting the case.  

The case is part of the Department of Justice’s Elder Justice Initiative.   If you or someone you know is age 60 or older and has experienced financial fraud, experienced professionals are standing by at the National Elder Fraud Hotline: 1-833-FRAUD- 11 (1-833-372-8311). This U.S. Department of Justice hotline, managed by the Office for Victims of Crime, can provide personalized support to callers by assessing the needs of the victim and identifying relevant next steps. Case managers will identify appropriate reporting agencies, provide information to callers to assist them in reporting, connect callers directly with appropriate agencies, and provide resources and referrals, on a case-by-case basis. Reporting is the first step. Reporting can help authorities identify those who commit fraud and reporting certain financial losses due to fraud as soon as possible can increase the likelihood of recovering losses. The hotline is open Monday through Friday from 10:00 a.m. to 6:00 p.m. ET. English, Spanish and other languages are available.

More information about the Department’s efforts to help American seniors is available at its Elder Justice Initiative webpage. For more information about the Consumer Protection Branch and its enforcement efforts, visit its website at https://www.justice.gov/civil/consumer-protection-branch. Elder fraud complaints may be filed with the FTC at www.ftccomplaintassistant.gov or at 877-FTC-HELP. The Department of Justice provides a variety of resources relating to elder fraud victimization through its Office for Victims of Crime, which can be reached at https://www.ovc.gov.

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