Mask Sales Not Enough To Keep 3M From Having Disappointing Quarter
3M brand N95 particulate respirators are displayed on a table on July 28, 2020 in San Anselmo, California. Justin Sullivan/Getty Images

Two Texas men were charged by the Department of Justice for attempting to sell 50 million non-existent N95 masks to a foreign government.

The men were identified as Paschal Ngozi Eleanya, 46, and Arael Doolittle, 55. Both were based in Texas.

They planned to defraud a foreign government through selling $317 million worth of N95 masks, but they did not have that amount of respiratory masks at all, said a New York Post report.

According to FOX News, the men were planning to "sell" 3M model 1860 N95 masks at a price that was five times higher the company's public price list.

A three-count indictment against the Texas men was returned by a federal grand jury on Thursday last week.

As per the indictment, the men and their brokers will be held liable. It also included text messages from both defendants.

Wire Money for Bogus N95 Masks Stopped

Eleanya and Doolittle expected to get a sum of up to $275 million from the sale.

The money was wired by the foreign government but the U.S. Secret Service managed to stop the deal before it was completed. The transaction was foiled just in time.

A report from Reuters identified the foreign government as New South Wales in Australia during a court hearing on Tuesday. It was confirmed the U.S. attorney Ryan Patrick's office in Houston.

Law enforcement did not identify New South Wales.

Eleanya turned himself in to authorities on Tuesday while Doolittle was taken into custody last Friday, and they were charged with two counts of wire fraud.

Both men face up to five years in prison for conspiracy and 20 years for each wire fraud count. They also have to pay $250,000 in fines.

The investigation on this case was conducted by the Secret Service while Assistant U.S. Attorney Justin R. Martin is reportedly in charge of the prosecution.

Doolittle's lawyer did not provide immediate comment on behalf of their client while Eleanya's legal representative could be immediately identified.

Doolittle also faced separate charges last month for trying to defraud 21 investors by $1.2 million worth of oil and gas transactions. He pleaded not guilty for this case.

Government Combats Illegal Selling of N95 Masks, Other Protective Gear

3M Co. has been known to be the largest producer of N95 masks in the world. It is based in St. Paul, Minnesotta and a multinational conglomerate.

Most of the N95 masks produced by this company cost less than $2 and they have pledged not to push up their prices for face masks and other protective gear because of the coronavirus pandemic.

The company has already filed at least 19 civil lawsuits for price-gouging, counterfeiting improper sales and other illegal practices for its masks.

Since the coronavirus pandemic started wreaking havoc in the U.S., Attorney General William Barr created the COVID-19 Hoarding and Price Gouging Task Force.

The goal of this task force is to combat any illegal efforts regarding protective gear.

The Department of Health and Human Services also released its own list of health and medical supplies that can't be hoarded or sold for extremely high prices.