Feds: Nik Patel planned to launder $35M in gem buy
Nik Patel not only tried to flee the country this month in the wake of his fraud conviction, according to new information filed in federal court Friday by the FBI, he did so with intent to buy one of the world’s rarest diamonds using $35 million in “dirty money,” to launder money through Dubai bank accounts, and to seek help from lawyers and consultants around the world.
The latest allegations appear to indicate that his years of cooperation with investigators may have coincided with a cover to shield funds he had stolen in a $179 million fraud run out of his company, Orlando-based First Farmers Financial.
Agents who stopped Patel, 34, on Jan. 6 at Kissimmee Gateway Airport said he was carrying an outline of his plan, which said buying diamonds was the best method of laundering money. The contents of the outline were filed as evidence to deny further bond for him. “This is the cleanest way to do the transaction, kill any trace, and cover everyone,” said the outline that feds attribute to Patel. “Legit stones are being bought, and the ‘trace’ ends there.”
Other details outlined in the documents filed Friday said he had luxury cars waiting for him in Ecuador valued at $500,000; a bag of some kind of white powder seized at the airport; luxury watches; $20,000 in cash; and eight cellphones at his home. Before his alleged flight attempt, he had been on bonded release for years. He was originally arrested in September 2014, and pleaded guilty Dec. 6, 2016. He is set for sentencing, on the original loan fraud and an additional attempt to flee the country, March 5.
According to the authorities, Patel had arranged for his family, including his wife Trisha Patel, to fly to Ecuador — and after they did, he told the court his family would provide his bond money.