After admitting to the theft of more than $1,000,000 from the US Government, a septuagenarian faces months behind bars.
The U.S. Department of Justice reports that 71-year old Eric Banks pleaded guilty for stealing a US Treasury Department check to be paid to an New York business.
DOJ claims Banks stole an U.S. Treasury Check worth $1,13 Million. The DOJ says that Banks opened a New York bank account under the name of the firm to which the check had been drawn and then deposited the money into the account.
This is just the beginning.
Seven other people were also assisted by Banks in laundering money stolen from the US Government.
Banks also created and opened an account for a fake second entity. Banks created a bank account for $1.3M in the name of a second fake entity. Other people who received and deposited stolen U.S. Treasury check transferred more than $1,300,000.00 to it.
Banks is facing charges for collectively stealing $7.44m in US Government funds.
Banks, in addition to the 14-month prison sentence, will be subjected to three years of supervision.
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Sources of Images include Pixabay Creative Commons & Midjourney
The post entitled 71-Year Old Man Steals $1.130,000 from US Government and Helps Companions Launder Millions of Stolen Funds : DOJ could be updated as new information becomes available.
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