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Chicago man charged with theft from state's unclaimed property program

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Sunday, December 22, 2024

Chicago man charged with theft from state's unclaimed property program

State AG
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Illinois Attorney General Kwame Raoul | Facebook Website

Attorney General Kwame Raoul has filed charges against a Chicago man, Shaheed Tamir, for allegedly stealing over $500,000 from Illinois' Unclaimed Property Program. The charges involve filing fraudulent claims with the Unclaimed Property Division of Illinois State Treasurer Michael Frerichs on behalf of two companies.

Tamir faces three counts of theft of government property exceeding $100,000, classified as Class X felonies with potential sentences of up to 30 years in prison. Additionally, he is charged with 14 counts of forgery, Class 3 felonies that could result in up to five years in prison. His next court appearance is scheduled for February 6.

“Anyone who fraudulently claims property through Illinois’ Unclaimed Property Program is stealing from the people of Illinois as well as the rightful owners of that property,” stated Attorney General Raoul. “I will continue to collaborate with Treasurer Frerichs and law enforcement agencies to investigate and hold individuals accountable for stealing from this program and Illinois residents and businesses.”

The investigation began when Frerichs' Unclaimed Property Division identified potentially fraudulent claims. The Illinois Secretary of State also provided assistance in the case.

“We take our duty to guard unclaimed property seriously. These charges are evidence that our increased theft-prevention efforts are working,” said Treasurer Frerichs. “I appreciate the professionalism of Attorney General Raoul to bring this case to justice and the General Assembly for providing us the resources to upgrade our fraud prevention systems.”

Raoul's office alleges that between April 2018 and February 2021, Tamir falsely represented himself as a manager for Botta Capital Management LLC and New Edge LLC. He allegedly submitted annual reports with the Secretary of State for both companies before filing fraudulent claims with Frerichs' division to obtain more than $500,000 in unclaimed funds.

In April 2024, similar charges were filed against Tamir for attempting to collect unclaimed property on behalf of Wittek Corp. This included attempted theft of government money over $100,000—a Class 1 felony—and multiple counts of forgery, mail fraud, and wire fraud—all Class 3 felonies punishable by up to five years in prison. This case remains pending in Cook County.

The public is reminded that the defendant is presumed innocent until proven guilty in a court of law.

Deputy Bureau Chief John Brassil is prosecuting the case under Raoul’s Special Prosecutions Bureau.

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