A Brooklyn man stood before a federal court and admitted his role in a massive money-laundering operation that quietly moved more than $8 million in stolen health care funds through a U.S. bank.
What makes the case stand out isn’t just the dollar figure — it’s who was involved.
For the first time ever, the Justice Department’s Health Care Fraud Unit has secured a conviction against a former bank employee accused of helping wash health care fraud proceeds.
Inside the Banker’s Role in a Global Fraud Web
The defendant, 36-year-old Renat Abramov of Brooklyn, once worked as a relationship manager at a bank branch in Sheepshead Bay.
Prosecutors say he used that trusted position to help grease the wheels of an international criminal operation uncovered under a federal crackdown known as Operation Gold Rush.
Abramov, who holds both U.S. and Azerbaijani citizenship, allegedly wasn’t a bystander — he was part of the transnational criminal organization itself.
Medicare Fraud on a Massive Scale
Court filings paint a staggering picture.
Investigators say the criminal group filed more than $10 billion in bogus Medicare claims, using stolen identities taken from over one million Americans.
Many of the victims were elderly or disabled, and the fraud stretched across every U.S. state.
The scale alone places the scheme among the most sweeping health care fraud efforts ever uncovered.
How the Money Slipped Through the System
According to prosecutors, the group leaned heavily on the U.S. banking system to make its dirty money look clean.
Abramov allegedly helped open accounts for people pretending to run medical equipment companies that didn’t really exist.
Fake registration papers helped sell the story.
Many of the account holders weren’t even legally in the country.
Once Medicare and insurance checks landed in those accounts — checks that looked legitimate because they came from trusted insurers — the money was quickly moved overseas or converted into cryptocurrency.
A Guilty Plea With Serious Consequences
Abramov pleaded guilty to conspiracy to commit money laundering, a charge that carries a potential sentence of up to 20 years in federal prison.
A judge will ultimately decide his punishment after weighing sentencing guidelines and other legal factors.
His sentencing date has been set for April 20.
Federal Agencies Close Ranks
The case was announced by senior officials from the Justice Department’s Criminal Division and the Department of Health and Human Services Office of Inspector General.
The investigation itself is being handled by the FBI alongside HHS-OIG, underscoring how seriously federal authorities are treating financial insiders who cross the line.
Prosecutors Behind the Case
A team from the Criminal Division’s Fraud Section is handling the prosecution, led by assistant chiefs and trial attorneys with deep experience in complex fraud cases.
Their work feeds into a broader national effort to disrupt health care fraud before it drains public funds even further.
The Bigger Fight Against Health Care Fraud
This case sits within the Justice Department’s long-running Health Care Fraud Strike Force Program.
Since launching in 2007, strike forces across the country have charged more than 6,200 defendants accused of billing over $45 billion in fraudulent claims.
Federal agencies, including Medicare officials and inspectors general, say they are continuing to tighten oversight and push accountability for anyone involved — whether they’re fake providers or insiders abusing positions of trust.
What’s Next?
All eyes now turn to sentencing, where the court will decide how much time Abramov will face behind bars.
Beyond that, the case sends a clear message: bank employees who help criminal networks exploit the health care system are no longer flying under the radar — and investigators are watching closely.
