Federal Deposit Insurance Corporation
Office of Inspector General

Philadelphia Man Charged with Bank Fraud Involving an Account Takeover Scheme of a U.S. Veteran

United States Department of Justice
The United States Attorney's Office, Eastern District Pennsylvania
PRESS RELEASE
Press Release

FOR IMMEDIATE RELEASE

Tuesday, September 26, 2017

Philadelphia Man Charged with Bank Fraud Involving an Account Takeover Scheme of a U.S. Veteran

On Tuesday, September 26, 2017, Jerry Louis was charged by indictment with one count of bank fraud and one count of access device fraud.

In April 2012, Louis engaged in an account takeover scheme to cash checks that were fraudulently issued from a victim’s TD Bank account.  The victim was veteran of the United States Military and was infirmed in a VA hospital at the time of the fraud. Louis, along with his coconspirator, recruited individuals to cash checks fraudulently drawn on the account. In turn, Louis, his coconspirator, and the recruited individuals shared the withdrawn funds.  The victim’s account was nearly depleted and TD Bank reimbursed tens of thousands of dollars to the victim. The indictment also alleges that in February 2015, Louis trafficked in counterfeit access devices and sold fake credit cards that were encoded with stolen credit card information.

This investigation was initiated based on a request for assistance from the United States Attorney’s Office for the Eastern District of Pennsylvania.

The case was investigated by the United States Secret Service, the Federal Bureau of Investigation, and the Federal Deposit Insurance Corporation-Office of Inspector General.  

This content has been reproduced from its original source.

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