A 21-year-old Gujarat man accused of helping run a fraud scheme that allegedly cheated elderly victims in the United States out of nearly $7.5 million has been arrested in Canada after authorities say he left the US less than a day after being released by a court.
Jay Sunilbharthi Goswami, an Indian citizen from Gujarat who had been living in Jersey City, New Jersey, is facing charges including wire fraud, conspiracy to commit wire fraud, money laundering and conspiracy to commit money laundering.
US authorities allege that Goswami acted as a “money mule”, collecting cash and gold from elderly victims who were deceived into believing their savings were in danger.
Released in US, Then Crossed Into Canada
Goswami appeared before US Magistrate Judge Mark W Pedersen on August 17 and was released before trial under certain conditions.
However, according to US authorities, he crossed the Peace Bridge into Canada at around 10:25 am the next morning.
Investigators later discovered that he had reportedly booked a flight from Toronto to Doha for later that evening.
The US Probation Office subsequently filed a violation report, leading a court to issue an arrest warrant.
Canadian authorities then detained Goswami at Toronto Pearson International Airport at around 7:13 pm local time, reportedly over immigration violations.
He was formally arrested on August 20 after the US requested his provisional arrest while extradition proceedings are pursued.
Elderly Victims Lost Millions
The case centres on an alleged internet- and telephone-based fraud network that targeted elderly people in western New York and other parts of the United States.
According to the allegations, victims were contacted and falsely told that their bank accounts, money or personal information had been compromised.
The fraudsters posed as law-enforcement officers and other officials to make the victims believe their savings were at immediate risk.
Victims were then allegedly persuaded to convert their money into cash, gold or gift cards.
Once the victims handed over valuables, people described as money mules collected and moved the cash or gold. Investigators claim Goswami was involved in this part of the operation.
Allegedly Collected Cash and Gold From Nine Victims
US investigators allege that Goswami personally collected, or conspired with others to collect, cash and gold from elderly victims on at least nine occasions across New York and New Jersey. The victims were reportedly between 59 and 87 years old.
Together, they allegedly lost approximately $7,559,185, highlighting the scale of the suspected fraud operation.
Investigators also examined Goswami’s bank transactions. They allege that he deposited more than $90,000 in cash into a Bank of America account between August 1, 2025, and April 6, 2026.
According to the complaint, investigators believe these deposits were consistent with money Goswami allegedly received for his role as a money mule.
Investigation Spanned Several Agencies
The investigation began in January 2026, when the IRS Criminal Investigation Division became aware of the alleged fraud scheme.
The investigation has involved several US agencies, including the IRS Criminal Investigation Division, New York State Police, New Jersey State Police and New Jersey’s Office of Homeland Security Investigations.
Following his alleged attempt to leave the US, additional agencies became involved in locating and detaining him, including the US Marshals Service, US Border Patrol and US Probation Office, along with Canadian law-enforcement authorities.
The US Justice Department’s Office of International Affairs is now assisting with efforts to secure Goswami’s extradition from Canada.
Facing Up to 20 Years if Convicted
Goswami faces multiple federal charges related to alleged wire fraud and money laundering. Each offence carries serious penalties, with the charges carrying a maximum possible sentence of up to 20 years in prison. However, the allegations have not been proven in court.
US authorities have stressed that the charges are accusations and that Goswami is presumed innocent unless and until he is proven guilty.
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