American ex-pat sentenced to 8 years for Panamanian wire fraud conspiracy


Date: June 28, 2022


U.S. District Judge Thomas P. Barber today sentenced Jeffrey Jedlicki (Panama City, Panama) to eight years in federal prison for wire fraud conspiracy. As part of his sentence, the court also ordered Jedlicki to forfeit $700,000 and a South Florida residence worth in excess of $2 million. The court also ordered Jedlicki to pay $3,244,592.00 in restitution to the victims. Jedlicki had pleaded guilty on September 16, 2021.

According to court documents, Jedlicki and his co-conspirators operated international boiler rooms in Panama and elsewhere that used high-pressure sales techniques to defraud individuals who invested substantial amounts of money in what they believed were regulated financial products or markets, such as options in commodities and stocks. The majority of the victims that the boiler rooms targeted were located in Canada, the United Kingdom, Australia and New Zealand.

Jedlicki and his co-conspirators then transferred fraud proceeds generated by the boiler rooms through several money laundering rings, and then on to overseas accounts, with the launderers receiving a percentage of the funds they had moved. Jedlicki himself received a 2% referral fee for referring victims' funds to a money laundering ring. Jedlicki used the funds to perpetuate the conspiracy, and for his own personal enrichment. In total, Jedlicki and his co-conspirators wired or caused to be wired approximately $3,244,592 in victims' funds to money laundering accounts in furtherance of the wire fraud conspiracy.

"Boiler rooms use high-pressure sales techniques to rope unsuspecting individuals into bogus investment schemes," said Brian Payne, Special Agent in Charge of the IRS Criminal Investigation Tampa Field Office. "Today, justice was served. Jedlicki will spend nearly a decade in prison, and he has been ordered to repay the victims of his scheme the $3.2 million he stole from them."

"This sentence reflects the serious nature of the offense," said HSI Tampa Assistant Special Agent in Charge John Dumas. "HSI, working closely with Internal Revenue Service – Criminal Investigation and our international partners, is committed to stopping transnational criminal organizations that target the elderly with investment fraud schemes."

This case was investigated by the Internal Revenue Service – Criminal Investigation and Homeland Security Investigations. It was prosecuted by Assistant United States Attorney David W.A. Chee. The forfeiture is being handled by Assistant United States Attorney Suzanne Nebesky.