NEW YORK — A former banker from Brooklyn has admitted to laundering over $8 million in proceeds from Medicare fraud for a transnational criminal organization, as announced by federal prosecutors.
Renat Abramov, 36, residing in Brooklyn, confessed to conspiring to commit money laundering while working as a relationship manager at a U.S. bank branch located in Sheepshead Bay. Prosecutors indicated that Abramov exploited his role to facilitate the movement of fraudulent healthcare funds through the U.S. financial system, marking a significant milestone as it is the first conviction of a former bank employee for laundering healthcare fraud proceeds by the Justice Department’s Health Care Fraud Unit.
Court documents reveal that Abramov was involved in an international criminal network that was exposed through Operation Gold Rush. This organization allegedly filed over $10 billion in fraudulent Medicare claims after stealing the identities of more than one million Americans, including elderly and disabled individuals from all 50 states.
Operation Gold Rush: The DOJ revealed the most extensive health care fraud operation ever, charging 324 individuals across the country for schemes that aimed to defraud Medicare and other programs of over $14.6 billion. This coordinated effort in 2025 resulted in numerous criminal and civil cases, the confiscation of over $245 million in assets, and the thwarting of billions more in fraudulent payments, highlighting an unparalleled federal and state initiative against health care fraud that affects both patients and taxpayers.
Prosecutors stated that Abramov assisted the group in circumventing bank controls by opening accounts for individuals masquerading as owners of fake durable medical equipment companies. Many of these account holders were unlawfully present in the United States and used counterfeit corporate registration documents to seem legitimate.
The accounts were utilized to deposit insurance payments from Medicare and private insurers, which appeared credible due to their origin, according to authorities. After being deposited, the funds were transferred to offshore accounts and converted into cryptocurrency.
Abramov, who holds dual citizenship in the U.S. and Azerbaijan, pleaded guilty to conspiracy to commit money laundering, a charge that could result in a maximum sentence of 20 years in prison. He is set to be sentenced on April 20, with a federal judge determining his punishment based on sentencing guidelines and other statutory considerations.
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