United States Attorney Benjamin B. Wagner
Eastern District of California
Additional Charges in Bank Fraud Scheme
|FOR IMMEDIATE RELEASE||
Thursday, March 14, 2013
Docket #: 2:11-cr-216-MCE
SACRAMENTO, Calif. — A federal grand jury returned a second superseding indictment today adding Tiffany Tung, 24, of Oakland as a defendant in an ongoing bank fraud prosecution, United States Attorney Benjamin B. Wagner announced.
Previously in the case, on May 12, 2013, an indictment charged Deshawn A. Ray, 40, of Vallejo, and a superseding indictment on January 12, 2012, added Reginald L. Thomas and Damion E. Edgerson, charging them with conspiracy to commit bank fraud, bank fraud, and aggravated identity theft. The scheme targeted banks in Modesto, Oakland, Vallejo, Menlo Park, Corona Del Mar, San Francisco, Tarpon Springs, Fla., and Dallas.
According to court documents, from March 2008 until July 2010, Ray and Thomas conducted a bank fraud scheme that defrauded banks by identifying high-value accounts at various banks. Members of the conspiracy established personal accounts and then used the personal information of the high-value account holders to open joint accounts with them. They transferred funds from the high-value accounts to the joint account and then to their own individual account. Then they withdrew the proceeds of the fraudulent transfers in cash, cashiers’ checks or wire transfers before the transfers were noticed by the bank and reversed.
According to the superseding indictment, Tung used her job as a bank teller to facilitate the fraudulent transfers. Participants in the scheme were directed to seek out Tung to complete the fraudulent transactions, and according to the indictment, Tung received payment from the other members of the scheme after withdrawals were successfully completed.
This case is the product of an ongoing investigation by the United States Secret Service. Assistant United States Attorney Matthew Morris is prosecuting the case.
Edgerson previously pleaded guilty and was sentenced on February 7, 2013, by Chief United States District Judge Morrison C. England Jr. to serve 18 months in prison for his role in the scheme. He is not charged in today’s indictment. Ray and Thomas are scheduled to appear before Judge England on April 4, 2013, for a status conference.
The maximum statutory penalty for a violation of bank fraud is 30 years in prison. Any sentence, however, would be determined at the discretion of the court after consideration of any applicable statutory factors and the Federal Sentencing Guidelines, which take into account a number of variables.
The charges are only allegations, and the defendants are presumed innocent until and unless proven guilty beyond a reasonable doubt.