Former Professor at Georgia Tech Indicted on Racketeering Charges for Funneling $1 Million Into His Company

On December 30th, a former professor at Georgia Tech was indicted on racketeering charges for using the college’s funds to funnel $1 million in equipment into his personal business.

Joy Laskar faces two counts of racketeering for allegedly stealing $1 million from Georgia Tech. He was indicted by a Fulton County Grand Jury.

Laskar worked as the director of the Georgia Electronic Design Center (GEDC) at Georgia Tech, and began spending the university’s money on computer chips from CMP, a French microchip manufacturer, then used the chips to benefit Sayana Wireless, a private company that he founded in 2006. He also allegedly used Georgia Tech’s resources, such as phones and email, to conduct the company’s day-to-day operations, which is a violation of the college’s policy and procedures.

The alleged racketeering occurred between 2006 and 2011. In 2010, Georgia Bureau of Investigation agents raided his home and office, as well as those of several of Laskar’s colleagues. Reportedly, GEDC found cost overruns after a larger Georgia Tech audit, and contacted the authorities about potential fraud.

Although Laskar was arrested in 2010 after the raids, along with three other colleagues, the racketeering indictment took over four years, coming in within days of the statute of limitations expiration. Laskar has been suspended without pay from Georgia Tech since the original racketeering investigation.

If convicted on the racketeering charges, Laskar faces up to 40 years in prison, and a fine of $100,000 for each charge.

The Strom Law Firm Can Help with Racketeering Charges and Other RICO Charges

RICO charges involve the operation of an illegal business or enterprise, including a fraudulent scams, for an individual or entity’s personal profit. RICO cases are complex criminal cases.  They involve serious criminal charges and life altering potential consequences. The federal Racketeer Influenced and Corrupt Organizations Act (RICO) and similar state racketeering laws give the government a tremendous amount of power to go after those accused of racketeering.

The Federal Racketeer Influenced and Corrupt Organizations Act (RICO) and similar state racketeering laws give the government a tremendous amount of power to go after those accused of racketeering.

The RICO act is broad and covers a variety of white collar crimes including:

• murder,
• the transportation and distribution of drugs,
• gambling,
• embezzlement,
• extortion,
• theft/armed robbery,
• money laundering, and
• bribery
• racketeering

Being arrested or investigated for federal criminal charges can be very stressful. However, just because you are under a great deal of pressure does not mean that you are automatically guilty, or that you have no rights in court. For experienced RICO and federal criminal charges defense attorneys who will fight for your rights and work to have your charges reduced or even dismissed, contact the attorneys at the Strom Law Firm, today. We offer free, confidential consultations so that you can discuss the facts of your case with impunity, in a safe environment. Do not hesitate to contact us. 803.252.4800.