A New York man pleaded guilty Tuesday to laundering over $8 million in health care fraud profits through a U.S. bank on behalf of a transnational criminal organization (TCO), according to a Department of Justice (DOJ) press release.
Renat Abramov, 36, used his position as a “relationship manager” at a Bank of America branch in Sheepshead Bay, Brooklyn to “aid a sophisticated international scheme,” the press release states. He was a dual citizen of Azerbaijan and the United States, and a member of the unnamed TCO which engaged in identity theft across the United States and submitted fraudulent Medicare claims totaling over $10 billion, per the release.
According to his LinkedIn, Abramov has worked at Bank of America for almost seven years as a relationship manager.
Abramov assisted in the scheme “by opening bank accounts for individuals – many not lawfully present in the United States – who posed as owners of fake medical equipment companies using fake corporate registration documents,” according to the press release. The accounts were then used to deposit fraudulent insurance checks, which appeared to be legitimate because they came “from Medicare and established insurance companies.” The money would then be transferred from the accounts into “offshore accounts and cryptocurrency” by members of the TCO.
The scheme was initially uncovered by the DOJ’s Operation Gold Rush, which resulted in over 300 defendants being charged in June 2025, the press release indicated. According to the DOJ, Operation Gold Rush discovered more than $14.6 billion in alleged fraud claims, marking the largest health care fraud takedown in history.
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