On February 11, 2008, an anonymous tipster led authorities to Salman Sharif after seeing his photo posted on the FBI’s wanted fugitives list. The FBI tells NC WANTED that Sharif was living and working under an undisclosed alias in Queens, New York when he was taken into custody.
Sharif was charged with 43 counts of mail, wire and securities fraud and money laundering. Authorities said from January 1998 to June 2001, Sharif developed a scheme to defraud 350 clients out of more than $10 million while he owned and operated his own companies, Vestron Financial and Crescent Holdings Corporation. Vestron Financial was originally located in Raleigh, North Carolina then moved to Miami, Florida.
Sharif misappropriated approximately $2 million of investors’ money to pay for personal luxury items including an oceanfront condominium on Miami’s South Beach, a 42-foot yacht, a Ferrari, a Lexus SUV, a BMW, a Chevy Corvette, a Ducati SS900 motorcycle, and a Miami Beach modeling agency for his girlfriend. He also misappropriated more than $650,000 of investor funds to pay for various business expenses including employee salaries, rent for office space, and corporate income taxes.
Sharif faces a maximum penalty of five years in prison on each mail and wire fraud count, ten years on each securities fraud count, and 20 years on the money laundering counts. He is currently being held at a federal detention center in the Southern District of Florida. His sentencing hearing is scheduled for August 13, 2008.
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Salman Shariff is wanted on multiple charges including mail fraud, wire fraud, securities fraud and money laundering.
Over the course of five years from December 1996 until June 2001, authorities say Shariff developed a scheme to defraud 350 clients out of more than $10 million while he owned and operated his own financial company in Miami, Florida. He is also accused of losing about $1 million in investors’ funds. Authorities say he published false monthly and annual returns and bought luxury items, including a yacht and cars, with about $2 million worth of investor funds.
Wanted For:
Mail fraud, wire fraud, securities fraud and money laundering
Profile: Sex: Male
Ethnicity: Pakistani
Age Now: 35
Height: 5’8”
Weight: 175 lbs.
Hair: Black
Eyes: Brown
Traits/Habits: Sharif is known to frequent nightclubs and enjoys driving sports cars.
Last Seen:
Shariff was last seen in Miami, Florida in June 2001.
Possible Locations:
Authorities say Shariff has ties to Jupiter and Miami, Florida and Raleigh, NC. It is believed that he could be living in Queens, NY and using an alias.
If you have information on this case, call NC WANTED toll free at 1.866.43.WANTED or click on "Report a Tip." Your information will be kept confidential.
