Schulman Bhattacharya LLC – Fraud, Indictment and Scam



Schulman Bhattacharya LLC is a shady firm engaging in several criminal activities. Before you consider doing business with them or anyone associated with this firm, be sure to read the following reivew.

Schulman Bhattacharya LLC
(Source: The Washington Post)

About Schulman Bhattacharya LLC(Claims Made By Their PR Team)

The following section contains the fake claims made by the marketing team of this law firm. Hence, read the section with a grain of salt.

Schulman Bhattacharya LLCSchulman Bhattacharya LLC

Schulman Bhattacharya LLC is a private firm. This organization currently specializes in the legal services area. The company headquarters is located in Bethesda, Maryland, USA. 

The Schulman Bhattacharya, LLC is basically a commercial litigator mainly focusing on resolving the complex and challenging commercial disputes faced by clients through litigation, arbitration, mediation, and informal negotiation. The company’s annual revenue is estimated to be more than a million.

Being vast commercial prosecutors the company officials possesses experience in every industrial sector and with companies varying in sizes, locally, regionally, nationally, and as well internationally.

Schulman Bhattacharya has also been involved in some of the high-profile cases on an international level like the Sumitomo Corporation “rogue trading” cases, the Bank of New York Russian money laundering scandal, and the East Timor Oil and Gas drilling rights cases as well as substantial investor’s state disputes in Brazil, Philippines, and Mongolia.

Schulman Bhaatacharya LLC, – Insight on the Founding Members of Schulman Bhattacharya LLC.

About Jeremy Schulman 

Jeremy SchulmanJeremy Schulman

Jeremy Schulman is an American attorney, founder, and managing partner of Schulman Bhattacharya LLC, one of the country’s most sought-after law firms. He is the reason Schulman Bhattacharya LLC faced so much negative press due to his fraudulent activities.

Schulman also serves as the Chairman of the Litigation and Arbitration Group. 

Schulman is a graduate of the State University of New York at Buffalo School of Law, Schulman began his career as a clerk to Judge John M. Steadman of the D.C. Court of Appeals.

Talking about his expertise he specializes in complex commercial litigation cases, corporate counseling, internal investigations, and international/domestic arbitration. 

Jeremy touts his Somalia-related activities on the company’s website marking his representations of the government on matters including an investigation of financial corruption allegations asserted by the United Nations Monitoring Group for Somalia and Eritrea.

Schulman is also listed as a member of the honorary council and a former trustee of the Round House Theatre in Bethesda.

About Koushik Bhattacharya 

Koushik BhattacharyaKoushik Bhattacharya

Koushik Bhattacharya is a founding member of Schulman Bhattacharya LLC. He is defined as a seasoned litigator and a trusted corporate counselor. Appreciated by the clients for his ability to analyze the issues and craft creative and efficient strategies to dispose of costly and time-consuming disputes allowing his clients to focus on maximizing the success of their business.

Schulman Bhattacharya, LLC – Explaining Their Fraudulent Activities

Schulman Bhattacharya LLCSchulman Bhattacharya LLC

Jeremy W. Schulman of Schulman Bhattacharya LLC, a Bethesda lawyer began reclaiming a ransom amount of millions of dollars that belonged to the government of Somalia from accounts frozen during the country’s years of political pandemonium leading to a greater probability of prison after being accused of defrauding the people whom he was claiming to help.

Quoted by Prosecutors- “ Jeremy Schulman indicted on federal fraud charges has exploited connections to the Somali government and dissimulated to officially represent the war-torn country’s interest for his personal financial benefits.”

In addition to this prosecutors adds the story of fake documents, misrepresentations, and a misleading 5-year scheme to gain control of $12.5M. Further adding, prosecutors also quoted that Schulman did not have the authority to act on behalf of the East African country, and thus forged letters to present to banks and other financial organizations.

Schulman Bhattacharya, LLC- Continuing the Tale of the Fraud

Schulman Bhattacharya LLCSchulman Bhattacharya LLC

After the collapse of the Somali Democratic Republic amid a civil war, the Central Bank of Somalia requested banks across the globe to freeze financial assets belonging to the government to prevent withdrawals until the position of the government stabilizes.

In the course of this process, some accounts came under the control of the office of the New York State Comptroller. Somalia’s gold and currency were also held by the Federal Reserve Bank.

Schulman Bhattacharya, LLC- Outlining the Conspiracy

The 11-count indictment, returned by a federal grand jury in Maryland last week, outlines the conspiracy carried out by Schulman, an unnamed former leader of the Central Bank, and that person’s relative, Abdiaziz Hassan Amalo of Maryland.

Schulman Bhattacharya LLCSchulman Bhattacharya LLC

The former bank official had been appointed to the position of an advisor to the transitional Somali government in 2009 but according to the statements made by the prosecutors Schulman overestimated the official’s position and his/her authority and marked it as “deceptive information” into the documents to gain control of the assets.

Resulting of this alleged scheme, Schulman of Schulman Bhattacharya LLC gained a huge ransom amount of $880,000 at the end of 2013, adding also the increment of more than $400,000 from his compensation of the previous year.

Further continuing with the prosecutor’s statement which said Schulman And Amalo forged a letter purporting to be from the attorney general of the republic of Somalia in an attempt to get funds from the bank which were more than $1.5M. 

Result of the above activity being considered to be fraudulent Amalo was imposed with bank fraud charges against him in 2017. Though the in today date the case is still pending and his lawyers had not issued their statement in his support.

In June 2013, one of the banks and also the New York comptroller conditioned the release of the assets on official certification from the U.S. State department.

Schulman Bhattacharya LLC, – Statements Made by Schulman’s Lawyers

In defense of their client Schulman’s lawyer imposed a statement saying that the efforts made by him were very transparent and that he had the authority to act on behalf of the Somali government. Adding to this they said that his team has made efforts to assist a nation desperately in need of financial resources to ensure the government’s recovery from two decades of civil war.

Opposing this indictment mentioned that the State Department lawyer has made clear that Schulman’s certifications did not allow the Somali president to delegate his authority to receive the funds to a third party and indeed the communication should be passed directly by the Somali president.

Schulman of Schulman Bhattacharya LLC continued to communicate with the New York comptroller about releasing the assets without disclosing the instructions received by him from the State Department.

Schulman Rogers: The Lawyer of Schulman Bhattacharys LLC During the Case

Schulman worked with a law firm named Schulman Rogers during this time of alleged conspiracy but the statement mentioned by Schulman Rogers said otherwise.

Schulman Rogers stated that they are cooperating with the justice department and had no association with Schulman after 2016.

Adding up to this statement clearly withdraws possessing any knowledge regarding the alleged actions committed by Schulman and also the firm is not subject to any kind of investigation or indictment.

Schulman Bhattacharya LLC, – The Verdict made 

Schulman made an initial appearance before U.S. Magistrate Judge Gina L. Simms and through his lawyer pleaded not guilty to the charges. The hearing was held by videoconference in U.S. District Court in Maryland because of the pandemic.

Lawyers expect a three-week jury trial, and Schulman’s attorney asked the judge not to impose domestic travel restrictions.

Conclusion-  Impacts of Fraudulent Charges made against Jeremy Schulman on Schulman Bhattacharya LLC. 

Money laundering or fraudulent charges against Jeremy Schulman have impacted a lot on the firm in many challenging ways.

Also, money laundering harms financial sector institutions critical to economic growth. The economic growth for the company on domestic and international levels slows down. Money laundering promotes crime and corruption that slows economic growth and decreases productivity in the real sector economy. Also, money laundering and fraud led to the downfall of the company thus resulting in a decreased rate of employment opportunities.

Clearly, Schulman Bhattacharya LLC is not a reliable firm.

The views and opinions expressed in these articles are those of the source and do not necessarily reflect the official position of ‘,’ which shall not be held liable for any inaccuracies presented. The information provided within this article is for general informational purposes only. While we try to keep the information up-to-date and correct, there are no representations or warranties, express or implied, about the completeness, accuracy, reliability, suitability or availability of the information in this article for any purpose.

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