Serial fraudster Thomas Thanh Pham has been handed a seven-year prison sentence for defrauding a San Jose-based electronics manufacturer out of $1.2 million, in a statement obtained by the U.S. Attorney’s Office. The 53-year-old former CEO of Enterprise Products, LLC, was also ordered to pay restitution in the hefty sum of almost $3 million.
Acting U.S. Attorney Joseph H. Thompson aired his sentiment on the matter, saying, “Fraudsters have flocked to Minnesota for far too long,” adding that, “Pham is no exception. He is a serial fraudster who has demonstrated that he will not stop until he is stopped,” as Thompson put words to Pham’s criminal saga that has spanned decades, starting with unrelated offenses 32 years ago and evolving into an elaborate and sophisticated scam that, in its most recent iteration targeted the Californian firm under the guise of lucrative service agreements.
“Bad actors like Pham take advantage of hardworking Americans in order to enrich themselves by defrauding others,” commented Special Agent in Charge Alvin M. Winston Sr. from FBI Minneapolis, underscoring the impact of such schemes on genuine businesses and the wider economic fabric. The FBI’s involvement in unearthing and prosecuting the scheme highlights its ongoing efforts to clamp down on predatory fraudulent activities…