Owner of Illinois freight transport company indicted for $4 million fraud schemes

A Chicago businessman has been accused of orchestrating fraud and money laundering schemes that netted him millions of dollars.

According to an indictment unsealed on May 6, 2026, Raed Naser, 41, was charged with eleven counts of wire fraud and four counts of money laundering in U.S. District Court in Chicago, Illinois.

Naser pleaded not guilty at his May 6 arraignment.

Officials say that Naser owned a freight transport company based in Orland Park, Illinois.

Naser is accused of taking part in two wire fraud schemes that brought in more than $4 million.

One of the schemes involved an Elkhart, Indiana-based manufacturer of trailer axles and other parts.

From 2019 through August 2022, Naser allegedly submitted false invoice information for purported freight transport services that he knew his freight transport company had not provided.

Authorities say that through the scheme, Naser induced the trailer axle manufacturer to pay out $3 million for freight transport services that were not provided.

A second scheme involved “bakery franchises that Naser sold to an unsuspecting buyer after fraudulently inflating their value.”

Officials allege that Naser laundered the proceeds from the schemes in part by purchasing luxury automobiles including a Lamborghini Huracan, a BMW M8 Gran Coupe, and a Cadillac Escalade.

The indictment was announced by the U.S. Attorney’s Office for the Northern District of Illinois, the Chicago Field Office of the FBI, and the Chicago Division of the U.S. Postal Inspection Service.