Fugitive Financier Surrenders in Chicago

Robert D. Grant, Special Agent-in-Charge of the Chicago office of the Federal Bureau of Investigation (FBI) announced today the surrender of a former southwest suburban man, who was wanted in connection with a massive mortgage fraud investigation.

ABE KARN, age 50, whose last known address was 10812 Long in Oak Lawn, surrendered Friday morning to FBI Special Agents in Chicago. KARN had been the subject of an international manhunt, coordinated by the Chicago FBI since March of this year, when he was charged by a Federal Grand Jury in Chicago with violation of the Federal Wire Fraud statute. KARN voluntarily returned to Chicago from Dubai on Thursday evening, after learning from Internet media accounts that he was wanted by the FBI.

According to the indictment, KARN was the owner of Interforest Mortgage Company, located in Palos Heights, Illinois. KARN and three co-defendants are alleged to have knowingly assisted a nominee buyer of a property located in Joliet, in obtaining a fraudulent mortgage on the property.

KARN appeared in U.S. District Court in Chicago late Friday morning, at which time he was formally charged. KARN was released on bond, pending his next scheduled court appearance. If convicted of the charge pending against him, KARN faces a possible sentence of 10 years’ incarceration.

The public is reminded that an indictment is not evidence of guilt and that all defendants in a criminal case are presumed innocent until proven guilty in a court of law.

EDITOR’S NOTE: Copies of the wanted flyer are available from the Chicago FBI’s press office at (312) 829-1199.