An Indian national in the U.S. illegally has been sentenced to 18 years in prison for defrauding elderly Americans out of over $6.6 million in cash and gold.
Atharva Shailesh Sathawane, 23, in November, was found guilty by a federal jury of conspiracy to commit wire fraud and conspiracy to commit money laundering. As part of the international scheme, Sathawane would pick up cash and gold from elderly victims who were convinced to “liquidate their retirement accounts,” then he would deliver the cash or gold to co-conspirators.
Sathawane was involved in at least 33 trips to obtain cash and gold from elderly victims in Florida, Pennsylvania, Virginia, New Jersey, and New York, over a 4-month period. The scheme traced back to India, according to the U.S. Attorney’s Office for the Northern District of Florida, which announced the sentencing on Monday.
CASE UPDATE from @FBIJacksonville: On Monday, #FBI Jacksonville and law enforcement partners announced that Atharva Shailesh Sathawane, of India, was sentenced to 18 years in prison for his role in an international fraud scheme that targeted elderly victims and convinced them to… pic.twitter.com/OilisDF5er
— FBI (@FBI) January 26, 2026
“As a result of the fraud scheme, numerous elderly American citizens lost their entire life savings or experienced substantial financial hardship,” the office said.
Sathawane was caught trying to get over $1.4 million from two elderly but was “foiled by the intervention” from a victim’s friend in a first attempt, then arrested on a second attempt to get the funds.
Sathawane is in the U.S. illegally after overstaying his student visa, according to the U.S. Attorney’s Office. It’s unclear if he will serve his sentence or be deported back to India.
“Elder fraud schemes like this one are taking place every day in every state, but especially in Florida due to our large population of retirees, so it is of critical importance that we educate the public of these threats to prevent these fraudsters from continuing to victimize our seniors,” U.S. Attorney for the Northern District of Florida John P. Heekin said in a statement.
The investigation into the fraud scheme included the Gainesville (Florida) Police Department, the FBI, and the IRS-Criminal Investigations.
“This case underscores the devastating impact of international fraud schemes targeting our elderly citizens,” IRS Criminal Investigation Special Agent in Charge Ron Loecker said in a release. “The defendant’s actions robbed victims of their life savings and financial security. This case highlights the benefits to everyday Americans when local and federal law enforcement work hand in hand to bring criminals to justice and disrupt a network that preyed on the most vulnerable.”
