South Carolina man faces bank fraud and corruption charges

On Behalf of | Jun 12, 2015 | White Collar Crimes |

A South Carolina man may have to face incarceration of 30 years, along with a fine of $1 million after agreeing to plead guilty to federal fraud charges. The same man also pleaded guilty to bank fraud conspiracy in 2011 after trying to defraud the Bank of America. The current case apparently also involves some accomplices, and the group allegedly defrauded Wells Fargo Bank of approximately $100,000.

The investigation is reportedly still underway, but preliminary reports revealed that the defendant and his accomplices obtained the personal information of Wells Fargo clients. These included personal details, Social Security numbers and bank account numbers. The information was then allegedly used to corrupt bank employees.

By seeking the assistance of Wells Fargo personnel, they apparently managed to get funds transferred between accounts. The defendant and his accomplices would allegedly get friends or family to handle the transaction by impersonating Wells Fargo clients, pleading the desperate need for cash. Investigators claim that the group of alleged fraudsters would then go into the bank to complete the transactions.

Bank fraud cases are complex, and understanding these cases requires technical evaluation of the evidence the government has against the accused person. A person in South Carolina who is charged with federal crimes related to bank fraud will want to consult with an experienced criminal defense attorney. It is not clear whether there was any plea agreement forming the basis for the man’s plea of guilty. Nevertheless, during the sentencing phase of these proceedings, defense counsel will attempt to convince the court to exercise leniency by imposing a sentence toward the lower end of the federal guidelines.

Source:, “Man agrees to plead guilty to ‘corrupting’ Wells Fargo employees in fraud scheme“, Sarah Chaney, June 3, 2015


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