Sacramento gang member gets 5 years in prison for bank fraud | News10.net | Sacramento, California | News: "U.S. District judge sentenced Sacramento gang member Donald Taylor, 39, on Monday to five years in prison for conspiracy to commit bank fraud.
Taylor, who pleaded guilty to the charge on Aug. 31, 2009, was accused of being apart of a financial scheme that stole between $1 million and $2 million from 37 financial institutions in late 2007 and early 2008, said Lauren Horwood with the U.S. Department of Justice.
Horwood said Taylor was the seventh defendant to be sentenced in the conspiracy uncovered by a federal investigation. According to court documents, the organizers, operating out of California, sent runners to ten states including California, Arizona, New Mexico and Texas, to use so-called 'prepaid' credit cards for cash advances at banks.
Horwood said although the cards had small amounts of money available, the runners would tell the bank tellers to call a toll-free number that was controlled by a co-schemer, who would then pose as a card services representative saying there were thousands of dollars available on the card. The suspects would then instruct the teller which buttons to press on the card terminal in order to approve the transaction.
The runner would keep a portion of the funds and remit about half of the fraudently obtained funds to the scheme's organizers in the Sacramento area, said Horwood."
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