A federal grand jury has charged two men on charges of running a massive elder fraud ring that reportedly stole millions of dollars from elders in Western Pennsylvania and the United States, funneling the money through cryptocurrency and a Virginia bank.
The six-count indictment, unsealed Monday after an arrest in Virginia, names Amit Kumar Jain, 46, of Vienna, Virginia, and Trevaughn J. Yearwood, 28, of Orlando, Florida.
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Prosecutors said the scheme, which lasted from January 2024 until August 2025, was sophisticated and lucrative. According to court documents, the two individuals collaborated to deceive elderly victims into giving them large sums of money through false emails. Once the victims were hooked, they were told to either physically give over tens of thousands of dollars in cash to couriers or deposit the money in Bitcoin ATMs.
The scale of the alleged money laundering is staggering. Investigators believe that Jain, also known as “Buddy Patel,” and Yearwood, who went by the moniker “Larry Wood,” used phony business firms to launder about $26 million in victim cash. Much of this money allegedly flowed through accounts at a bank in Vienna, Virginia.
“First Assistant United States Attorney Troy Rivetti announced the charges today, highlighting the collaborative effort between local and federal agencies to track the money trail,” according to the United States Attorney’s Office.
Yearwood is currently in jail at the Clearfield County Jail on unrelated state charges. Jain was detained last Monday in Virginia.
If the government succeeds in getting convictions, the implications might be severe. Jain faces a maximum of 40 years in prison and a $1 million fine. Yearwood faces up to 20 years in jail and a fine of $250,000.
The IRS Criminal Investigation Division, the FBI, and the Mt. Lebanon Police Department worked together to conduct the investigation. Assistant US Attorney Gregory C. Melucci leads the prosecution.
