Threats, Cybercrime

Five charged for roles in massive bank fraud scheme

August 15, 2014

Five individuals were charged on Wednesday for their roles in a bank fraud scheme that has already led to 17 convictions in three separate cases, according to an FBI release.

Wassim Abouassali, Luis Jimenez, Jesus Venereo, Lazaro Perez, and Raul Riveron were all charged in the Southern District of Florida with varying counts of bank fraud, conspiracy to commit bank fraud, and aggravated identity theft, the release indicates.

They each face more than 30 years in prison if fully convicted.

The scheme involved paying for personal information – including Social Security numbers and banking data – and using it to make changes to and take control of bank accounts. Members of the group then created counterfeit and forged checks, which they attempted to cash at banks.

Financial institutions reported millions of dollars in losses.

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