CONCORD – Sean Crockett, 41, of Lebanon, Maine, was sentenced to 18 months in federal jail for financial institution fraud, United States Lawyer Jane E. Younger introduced immediately.
In keeping with courtroom paperwork and statements made in courtroom, Crockett used different folks’s identities to open service provider accounts and used these accounts to course of fraudulent bank card funds. Service provider accounts are financial institution accounts for companies that enable them to just accept funds by debit or bank card.
To execute the scheme, Crockett used altered financial institution and incorporation information, false tax paperwork, and different individuals’ identities to use for and open service provider financial institution accounts for corporations Crockett managed. Crockett paid a few of these individuals to make use of their identities to open these accounts. Others didn’t know Crockett and by no means gave permission to him to open the service provider accounts.
Crockett then used stolen bank card info to course of fraudulent transactions. Crockett withdrew the funds quickly after they have been deposited. Later the bank card holders disputed the transactions, leading to a whole lot of 1000’s of {dollars} of “chargebacks” to these service provider accounts. Usually, when chargebacks happen the funds are withdrawn from the service provider account. On this case, nonetheless, as a result of Crockett had already withdrawn the funds, the financial institution was pressured to pay the chargebacks. Due to this, the financial institution routinely closed Crockett’s service provider accounts. To proceed the scheme, Crockett opened new service provider accounts utilizing different peoples’ identities.
Along with his jail sentence, Crockett was ordered to pay $145,289.01 in restitution and will probably be beneath three years of supervised launch following the completion of his sentence.
“Monetary crimes trigger critical hurt to victims and deprive them of their hard-earned cash,” stated U.S. Lawyer Younger. “Via this deceitful scheme, the defendant defrauded his victims and prevented monetary establishments from clawing again his ill-gotten positive aspects. To cease this kind of prison exercise, we work carefully with our regulation enforcement companions to establish and prosecute fraudsters and different white-collar criminals.”
“In the present day Sean Crockett realized his destiny for orchestrating a complicated fraud scheme utilizing different folks’s identities to open accounts to evade detection so he might then commit extra fraud, harming his victims and forcing them to incur a whole lot of 1000’s of {dollars} in pointless losses,” stated Joseph R. Bonavolonta, Particular Agent in Cost of the FBI Boston Division. “What he did is inexcusable, and the FBI will proceed to work with our regulation enforcement companions to deal with a lot of these monetary crimes and produce their perpetrators to justice.”
This matter was investigated by the Federal Bureau of Investigation and the Inner Income Service. The case was prosecuted by Assistant U.S. Lawyer Matthew T. Hunter and Assistant U.S. Lawyer Alexander S. Chen.
###