Two sentenced in $1.5M fraud scheme
October 20, 2009
Total Loss:
$1.5 million
Two men were sentenced in U.S. District Court on Monday to operating a three-year scheme seeking to defraud financial institutions — largely servicing military members — of approximately $1.5 million, according to a statement from the U.S. Attorney's Newport News office. Joseph M. Cherry II, 29, of Norfolk, was sentenced to nine years in prison. Bruce Bridges, 26, of Virginia Beach, was sentenced to six years in prison. They were also each ordered to pay restitution of more than $796,000. Bridges pleaded guilty on June 23, and Cherry pleaded guilty on July 28 to their part in a bank fraud conspiracy and concealment money laundering scheme.
Source:
Daily Press
Posted in:
Account Takeover Identity Theft