NEW JERSEY MAN INDICTED FOR IDENTITY THEFT AND STEALING $250,000 FROM INVESTMENT ACCOUNT
BOSTON, Mass. - A New Jersey man was indicted today in federal court with stealing $250,000 from two Massachusetts victims’ joint investment account by using a series of assumed identities.
United States Attorney Carmen M. Ortiz; Robert Bethel, Postal Inspector in Charge of the United States Postal Inspection Service, Boston Division, and Boston Police Commissioner Edward Davis announced today that BRYAN WELLS, 26, was charged in an indictment with wire fraud and aggravated identity theft. WELLS had been arrested on a criminal complaint alleging wire fraud on July 28, 2010, and has remained in federal custody since that time.
An affidavit previously filed to support the criminal complaint alleges that in April 2010 WELLS targeted two Massachusetts victims’ joint investment account at the Charles Schwab investment firm. It is further alleged that WELLS sent Charles Schwab several fraudulent faxes that resulted in the company’s wiring $250,000 from the investment account to bank accounts that WELLS had set up using other fraudulently-obtained identities, all without the permission of the account-holders or the other people whose identities he had fraudulently assumed. WELLS was able to pose as these victims because he had used their dates of birth and Social Security numbers to obtain drivers’ licenses in their names. Using these identities, WELLS withdrew some of the stolen funds from various banks.
If convicted, WELLS faces up to 20 years imprisonment to be followed by three years of supervised release on the wire fraud count and two years imprisonment to be followed by one year of supervised release on the identity theft count. He could be ordered to pay restitution and a fine of $250,000 or twice the gain or loss, whichever is highest.
The case was investigated by the United States Postal Inspection Service and the Boston Police Department. It is being prosecuted by Assistant U.S. Attorney Scott L. Garland of Ortiz's Computer Crime Unit.
The details contained in the indictment, complaint, and affidavit are allegations. The defendant is presumed to be innocent unless and until proven guilty beyond a reasonable doubt in a court of law.