Roswell’s Man Charged for Unlawful Transactions and Fraud
A man from Roswell, Mexico named Christopher Adam Jensen-Tanner, 43, was charged with wire fraud and illegal transactions. He arraigned in federal court today on a 38-count indictment charging him with 34 counts of wire fraud and four counts of engaging in monetary transactions in property derived from specified unlawful activity.
The indictment was based on Christopher Jensen-alleged Tanner’s participation in a scheme that involved the theft of money and property obtained through illegal activity.
According to the indictment and other documents filed with the court, Jensen-Tanner is accused of using his position and access as owner and president of Roswell Escrow Services, Inc. (RES) to defraud customers and redirect their funds for his own personal gain.
RES acted in the capacity of real estate contracts’ servicer in addition to its role as qualified intermediary. Because RES was a qualified intermediary, it was able to hold the proceeds of property sales in trust for its clients for a period of time of up to 180 days.
During this time, the clients were able to use the funds to buy a property that was similar to the one that was sold without having to pay any capital gains tax. RES acted as a real estate contract servicer, which meant that the company collected monthly payments from property buyers and used a portion of those payments to pay for things like taxes, fees, and insurance.
Typically, such funds would be separated through a number of different bank accounts according to the nature and purpose of the funds, and occasionally, individual customers would go one step further and further delineate the funds.
Jensen-Tanner is accused of beginning the practise of commingling funds within the RES corporate accounts on or before January 11, 2017. This involved moving funds held in trust to operating accounts and vice-versa.
This goes against the best practises that have been established for the industry. According to the allegations, Jensen-Tanner made a number of personal purchases for himself directly from RES corporate accounts between the dates of approximately January 11, 2017, and October 23, 2019.
During the same time period, it is alleged that Jensen-Tanner moved money from corporate accounts held by RES at Wells Fargo bank into a holding account for Wells Fargo certified funds that was linked to Wells Fargo cashier’s checks. After that, Jensen-Tanner allegedly moved those certified funds to pay for his own personal expenses, either directly or indirectly through his own personal checking account.
More than two million dollars were stolen as a result of the scam. Due to the fact that Jensen-trial Tanner’s has not yet been scheduled, the terms of her release are subject to certain restrictions.
An accusation is all that is contained in an indictment. A defendant is presumed innocent unless and until their guilt can be established through legal means. If Jensen-Tanner is found guilty, she could spend up to 20 years in prison for each count of engaging in wire fraud, and she could spend up to 10 years in prison for each count of engaging in monetary transactions in property derived from specified unlawful activity.
This investigation is being led by the Federal Bureau of Investigation and the Internal Revenue Service Criminal Investigation, with assistance from the Securities and Financial Institutions Divisions of the New Mexico Department of Regulation and Licensing. The prosecution of the case is being handled by Assistant United States Attorneys Ry Ellison and Richard Williams.
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