Nolensville, Tennessee, June 16, 2026 – A federal grand jury in the Western District of Tennessee has returned an 11 count indictment charging Misam M. Abidi, according to a press release issued by the U.S. Attorney’s Office for the Western District of Tennessee (see: https://www.justice.gov/usao-wdtn/pr/middle-tennessee-man-indicted-crypto-ponzi-scheme). The allegations contained in the indictment are those of the government and have not been proven in court. The case is docketed as 2:26-cr-20245 in the U.S. District Court for the Western District of Tennessee.
According to the Department of Justice, the indictment alleges that Abidi, 47, of Nolensville, operated Star Credit Holdings in a scheme that defrauded investors between 2020 and 2024. The DOJ states that the indictment alleges guaranteed high rates of return, false statements regarding reserve funds and assets under management, the use of fictitious account statements, the use of investor principal to pay purported returns, diversion of funds for personal use, and failure to report income.
The charges include three counts of wire fraud, two counts of operating an unlicensed money transmitting business, three counts of aiding and assisting in the preparation of false tax returns, and three counts of money laundering, according to the DOJ. Readers may review the full details in the DOJ release linked above.
In response to the filing, Misam Abidi issued the following statement through his campaign:
“It is important for the public to understand a fundamental principle of the American justice system: the charges and allegations contained in an indictment are accusations, not evidence. Every person accused of a crime is presumed innocent unless and until proven guilty beyond a reasonable doubt in a court of law.
I intend to fully exercise my constitutional rights and will vigorously defend myself through the legal process. I welcome the opportunity to address these allegations in a courtroom where evidence, testimony, facts, and legal arguments can be examined through the judicial process.
For more than two years, I have lived under public allegations while having limited opportunity to challenge them in a judicial setting. With the filing of this case, the matter now moves into a process governed by due process, evidentiary standards, and judicial oversight. I have confidence in the legal process and look forward to presenting my defense.”
Abidi stated that he will continue participating in campaign activities while addressing the legal proceedings through the court system and remains focused on his family and ongoing responsibilities. No further comments regarding the case are being provided at this time.
Media Contact (Campaign)
Misam Abidi for Governor
Email: info@misamforgovernor.com
Phone: 901-826-9458
Website: www.misamforgovernor.com
DOJ Reference: https://www.justice.gov/usao-wdtn/pr/middle-tennessee-man-indicted-crypto-ponzi-scheme
Editorial
note / disclaimer:
This article contains information derived from a public announcement issued by the U.S. Department of Justice and a statement issued by the Abidi campaign. Kyrion Media Network is not affiliated with, nor does it endorse, any individual or organization referenced herein. The charges contained in the federal indictment are allegations only and have not been proven in court. Mr. Abidi is presumed innocent unless and until proven guilty in a court of law.
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