Student faces bank fraud charges

A medical student from Chicago is scheduled to be in federal court today to face charges of running an elaborate financial scheme while living in Portland and studying at Saint Joseph's College two years ago. Olumide Pidan, 30, will be arraigned on charges of bank fraud, wire fraud and mail fraud, plus two counts of aggravated identity theft. The indictment applies to only two alleged victims. Pidan is accused of using the Social Security numbers and birth dates of a man from Pennsylvania and a man from Connecticut to set up checking, savings and credit card accounts with Bank of America. Pidan then inflated the credit limits in those accounts by making fraudulent cash deposits, and transferred cash to himself before bank officials caught wind of the scheme and closed the bogus accounts, according to affidavits filed by Postal Service investigators. Posted in: Account Takeover Identity Theft