Silver Spring Man Convicted Of Bank Fraud Conspiracy, Identity Theft
GREENBELT, MD. (WJZ) — A federal jury convicted Emmanuel Kusi Appiah, 47, of Silver Spring, Md., on Tuesday for a years-long bank fraud conspiracy with losses of hundreds of thousands of dollars.
Appiah committed a bank fraud scheme between June 2013 to March 2018 that defrauded individuals and financial institution victims of several hundred thousand dollars, according to evidence presented at his five-day trial.
The evidence proved Appiah conspired with others to open bank accounts at 10 different financial institutions using the stolen identities of at least five victims, and under the business names of five shell corporations, including Global Tax Services Incorporated, Merchandise Services Incorporated, Merchandise Services Incorporated, Imperial Pipe Incorporated, SJ Metal Incorporated and Morgan Incorporated.
Appiah and his conspirators then used those fraudulent accounts to deposit stolen and altered business checks, convenience checks and tax refunds.
Witnesses said Appiah then withdrew the fraudulent proceeds in cash, moved the proceeds to other fraudulent accounts or laundered the proceeds through the purchase of money orders, which Appiah and the others used for their personal benefit.
The government is also seeking restitution in the full amount of the victims' losses.
Appiah faces a maximum sentence of 30 years in prison for conspiracy to commit bank fraud and for each of four counts of bank fraud and a mandatory two years in prison, consecutive to any other sentence imposed, for each of two counts of aggravated identity theft.
His sentencing is scheduled for June 1.
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