Jaffer Sadiq Nayeem is wanted for his alleged involvement in financial crimes, including theft and fraud. From 1996 through 2003, Nayeem is alleged to have operated Sterling Alliance, a company in Norristown, Pennsylvania, which purported to be an investment firm which would buy and sell stocks and high-end automobiles on behalf of its customers. After receiving cash from his numerous victim customers, Nayeem is alleged to have deposited the money into his personal bank account and then used the funds for his personal expenses.
On October 29, 2003, Nayeem was charged with theft and fraud offenses by local officials in Montgomery County, Pennsylvania. A federal arrest warrant was issued for Nayeem on August 24, 2007, in the United States District Court, Eastern District of Pennsylvania, Philadelphia, Pennsylvania, after he was charged with unlawful flight to avoid prosecution.