Tonernews.com, October 22, 2026. USA
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A Connecticut copier and printer sales business has been connected to a federal investigation into a $4.18 million trade-based money laundering scheme involving Jainam International, Inc., a Houston, Texas-based used copier wholesaler. Federal prosecutors allege that company owner Ketan Kamdar, 61, and his daughter, Jheel Kamdar, 30, used fraudulently obtained funds to purchase used copiers from American suppliers, including companies in Connecticut, before shipping the equipment through Texas to India for resale. According to the indictment, fabricated invoices allegedly misrepresented copier sales and helped conceal the movement of funds used to pay alleged co-conspirators in India. The case includes allegations involving a Massachusetts resident who was reportedly defrauded of approximately $248,000 from a retirement account, with more than $48,000 allegedly deposited into a Jainam International bank account. Federal authorities are seeking forfeiture of $4,184,295.22. The investigation raises questions about the potential misuse of international used copier exports and commercial equipment transactions in financial crime, although there is no indication in the cited announcement that the Connecticut suppliers knowingly participated in the alleged scheme. Both defendants have been charged with money laundering conspiracy and are presumed innocent unless proven guilty in court. Read the official U.S. Department of Justice announcement.
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