A multi-state, multi-million dollar investigation dubbed Operation Teller-to-Telegram just concluded with the arrest of several individuals who allegedly engaged in a bank fraud scheme that targeted the elderly.

In a statement, the office of the Florida Attorney General James Uthmeier says that eight individuals behind an $8.8 million bank fraud ring are now facing RICO charges, criminal use of personal information and other serious felonies. 

The fraud operation involved three bank employees in Maryland, identified as Barbara Frazee, Camala Shafer, and Antonio Penn, who allegedly sold and shared the account information of senior customers using the encrypted mobile messaging app Telegram.

The other perpetrators used the victims’ names, dates of birth, Social Security numbers and bank account information to drain savings, then transferred the stolen funds to accounts that they opened.

Says Polk County Sheriff Grady Judd,

“This wasn’t some small-time scam, this was a well-organized fraud ring stealing millions from innocent victims across the country. They thought they could hide behind mobile apps and fake accounts, but we found them, and we’ll continue to go after anyone who targets hardworking people’s life savings. Racketeering is a serious crime, and we will pursue as many felonies as possible against each one of these suspects.”

Frazee, Shafer and Penn are now facing charges along with their alleged co-conspirators: Okeroghene Akushe, Michael Nevarez, Roshado Durrant, Hassan Phillips and Kevin Clayton.

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Prosecutors have handed out prison time for eight individuals involved in a wide-ranging conspiracy of wire, bank and mail fraud.

In a press release, the US Attorney’s Office for the Middle District of Alabama says that Hunter Hudson, Jr., and seven other people have been sentenced to prison in an elaborate bank fraud scheme that caused an intended loss amount of more than $1.5 million.

The group, which referred to itself in a group chat as the “Fraud Academy,” stole checks, altered them and then deposited them into fraudulent bank accounts, according to prosecutors.

The US Postal Service aided in the investigation, according to the press release.

Says Timothy J. O’Malley, Acting Special Agent in Charge with the Federal Bureau of Investigation (FBI),

“Any attempt to exploit our postal or banking systems is a serious violation of the public’s trust. These actions will not be tolerated and will be prosecuted to the fullest extent of the law. Protecting the integrity of our postal and financial systems is essential and non-negotiable.”

25-year-old Hunter Hudson, the ringleader of the operation, was arrested in May of last year. Local news outlet Fox 13 reported that his rap lyrics gave the investigators material for their probe.

Captain Eric Hill with the Venice Police Department in Florida said that Hudson “drove around throughout the whole region of the United States and he would steal mail.”

“He would wash those checks or use the account information on those checks to then make fraudulent deposits into other individuals’ accounts who would agree to be part of this scam with them.”

Hudson was sentenced to 92 months in prison and was ordered to pay $987,883.50 in restitution and to forfeit $91,020.41.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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