Sergey A. Lebedenko, 54, and his wife, Galina A. Lebedenko, 49, recently admitted to orchestrating a sophisticated financial fraud and money laundering operation that spanned six years. The couple pled guilty to charges of conspiracy to commit wire fraud, conspiracy to commit money laundering, and wire fraud in a case that involved the unauthorized use of a wealthy publisher’s credit card.
The fraudulent activities took place between 2017 and 2023, during which the couple exploited the trust of publishing tycoon, 79-year-old Win McCormack, a prominent donor to the Democratic Party and heir to a Midwest banking fortune. The couple met McCormack in 2007, and Sergey began working as his chauffeur in 2016. After gaining access to McCormack’s American Express credit card that same year, the Lebedenkos made numerous unauthorized and excessive charges over several years.
Prosecutors revealed that the fraudulent scheme funded a lavish lifestyle for the couple. The money obtained through unauthorized credit card charges was used to acquire properties across Oregon, California, and Washington. These included vacation homes and luxury residences, some of which were purchased for their adult daughters and a pastor. Additionally, the couple invested in a 50% ownership stake in a private jet and bought gold bullion, expensive jewelry, and designer clothing.
Assistant U.S. Attorney Katherine C. De Villiers noted during the court proceedings that the couple had agreed to forfeit numerous assets connected to the scheme. The government has seized 19 financial accounts and 13 properties, estimated to be worth between $15 million and $20 million. Among the properties being forfeited are homes located in Bend, Boring, Gresham, Happy Valley, Portland, Silverton, and Sunriver, Oregon. Other properties acquired through the scheme were found in Battle Ground, Washington, Vancouver, and Indio, California. The properties were purchased either directly by the couple or through family trusts.
While McCormack did not attend the court hearing, he issued a statement expressing his hope that the prosecution would deter others from committing similar crimes, particularly against vulnerable elderly individuals. He emphasized the importance of protecting seniors from financial exploitation.
Assistant U.S. Attorney Andrew Ho highlighted the close relationship between Sergey Lebedenko and McCormack, which facilitated the scheme. As McCormack’s trusted chauffeur, Sergey gained access to McCormack’s credit card, eventually leading to the years-long fraudulent activity. Prosecutors say the Lebedenkos used this access to carry out a “colossal heist,” funneling money into personal luxury items and multiple real estate ventures.
As part of their plea agreement, Sergey and Galina Lebedenko consented to the forfeiture of the properties and financial accounts tied to the illegal scheme. The investigation uncovered a web of fraudulent transactions and property acquisitions, with the couple using the ill-gotten funds to support their extravagant lifestyle.
The case has drawn significant attention due to the scale of the fraud and the couple’s apparent misuse of funds for personal enrichment. Legal experts suggest that the forfeiture of assets is an important step in seeking justice and potentially recouping some of the losses suffered by McCormack.
The sentencing for Sergey and Galina Lebedenko is yet to be scheduled, and they face substantial penalties, including possible prison time and additional fines.
