Lawyer Indicted for Alleged Somali Asset Recovery Fraud

A Maryland attorney faces federal indictment alleging mail, wire, and bank fraud relating to an effort to recover millions in frozen Somali assets, the Justice Department said.

Jeremy W. Schulman and his accomplices allegedly created false documents and “made material misrepresentations and concealed material information” to banks and other institutions to recover these assets, a Justice Department press release said Dec. 3.

Schulman’s attorneys said in a statement that the government hasn’t done its due diligence and he “will be wholly vindicated of any criminal conduct, let alone fraud” when he tells his side of the story.

“We firmly believe ...