By CBS Baltimore Staff

GREENBELT, Md. (AP) — A Silver Spring man has been convicted of charges stemming from a scheme to defraud account holders at a credit union, a federal prosecutor says.

The U.S. Attorney’s Office in Maryland says in a news release that a federal jury convicted Francis Arthur, 35, for a money laundering conspiracy and for money laundering. The verdict, which was announced Thursday, was returned on Wednesday,

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The jury acquitted Arthur of a wire fraud conspiracy charge. the news release says.

Evidence presented at trial showed that from October 2016 through April 2017, Arthur and his co-conspirators made financial transactions aimed at hiding the nature, source and ownership of the money from a fraud scheme to obtain cash from account holders at a Maryland credit union.

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Specifically, evidence showed that the conspirators transferred, withdrew cash, and caused cashiers’ checks to be issued from the proceeds of a fraud scheme. Arthur and his co-conspirators then used the money to purchase vehicles to conceal the scheme.

Arthur faces up to 20 years in prison for the money laundering conspiracy and for each of five counts of money laundering. A sentencing date hasn’t been set.

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CBS Baltimore Staff