Ex-Hinsdale Accountant Sentenced In Fraud Case

HINSDALE, IL — A former accountant from Hinsdale has been sentenced to more than 16 years in federal prison for misappropriating more than $77 million, according to a Tuesday news release from the U.S. Justice Department. Sultan Issa, 47, pleaded guilty earlier this year to wire fraud affecting a financial institution. He was ordered to pay $72 million in restitution to his victims.

According to the news release, Issa was a certified public accountant and the chief financial officer of a group of partnerships, corporations and trusts owned by a Chicago-area family, according to the news release.

In separate legal proceedings, the victims have been identified as Roger Weston, a Winnetka resident, and his Chicago-based family foundation.

From 2010 to 2017, Issa embezzled at least $45 million of the family's assets, including money he stole from a trust account that was set up to pay for a member of the family's medical expenses for an "incapacitating" illness, prosecutors said.

Issa also fraudulently obtained at least another $5.1 million from people in his personal capacity, claiming he would invest their money in legitimate opportunities, including a luxury dealership he owned in Burr Ridge, the release said.

Issa used fraudulent proceeds to cover personal expenses and secure fraudulent loans from financial institutions totaling at least $83 million to acquire, among other things, residential properties in Illinois, Montana, Michigan and Cabo San Lucas, Mexico, two private aircraft, four yachts, about 60 guns and assorted watches, jewelry and memorabilia, the release said.

Prosecutors said Issa attempted to conceal the scheme by providing financial institutions with fraudulent loan documents and forging authorizations to gain control of money belonging to the family-owned group.