New Yorker sentenced for victimizing Valley man in loan scam

CLEVELAND, Ohio - There will be no prison time for a New York man charged in connection with a plot to defraud a 69-year-old Youngstown area man by convincing him to pay $52,000 in fees and costs associated with a bogus $3 million loan.
A federal judge on Wednesday placed Ali Abid on probation for three years and ordered him to make restitution in the amount of $52,000.
According to court documents, a co-conspirator of Abid told the victim he had secured the $3 million loan, and that the victim needed to pay more than $100,000 in cash to finalize the loan "when in fact there was no loan, and the purported fees were fictitious."
The victim was asked to bring $50,000 to a home improvement store parking lot in Johnstown, Pa., so the victim cashed a $52,000 check on July 3, 2018, and received $48,907 after fees related to cashing the check.
The victim took the money to the parking lot where he paid Abid the cash while the co-conspirator stayed out of sight and spoke with the victim on the phone, according to court documents.
Abid pleaded guilty to interstate transportation of stolen property in July.