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AUSA VICKIE E. LEDUC at 410-209-4885
MAY 18, 2006
FOR IMMEDIATE RELEASE
BALTIMORE WOMAN PLEADS GUILTY TO OBTAINING MORE THAN $850,000
IN WIRE TRANSFER AND CREDIT CARD FRAUD SCHEMES
BALTIMORE, Maryland - Bryn D. Phillips, age 30, of Baltimore, Maryland, pleaded guilty today to bank and mail fraud schemes in which she illegally obtained $860,751.88 in money, products and services by defrauding her employer, Old Mutual Financial Network (“OMFN”) and banks, announced United States Attorney for the District of Maryland Rod J. Rosenstein.
Phillips worked at OMFN as the Treasury Operations Manager. In a statement of facts provided to the court as part of the plea agreement, Phillips admitted that from October 2, 2002 to December 30, 2004, she obtained $708,049.42 by falsely representing to Wachovia Bank that OMFN gave her authority to wire transfer monies from OMFN accounts at Wachovia Bank, to Municipal Employees Credit Union (“MECU”) and other Wachovia Bank accounts controlled by Phillips. She caused checks to be drawn against OMFN’s account at Wachovia Bank that were payable to entities controlled by Phillips, and/or her relatives and associates, and withdrew monies from OMFN accounts which OMFN intended to use as payment for business expenses. Phillips also used names and passwords of employees under her supervision to execute the wire transfers.
Phillips also admitted that she obtained $152,702.46 in monies, personal property and services from September 2003 until January 20, 2005 by abusing a corporate credit card issued to her for OMFN business expenses. Phillips initially submitted reimbursement requests to other OMFN employees and later reviewed and authorized payments for the corporate credit card herself. The fraud allowed Phillips to make a number of unauthorized credit card purchases and obtain a variety of products, services and trips, including services and lodging at the Venetian Hotel in Las Vegas, Nevada; personal property including two Louis Vuitton handbags, a $4,095 pink mink jacket with faux trim, and jewelry; home improvements; and professional basketball tickets.
Phillips faces a maximum sentence of 30 years in prison, a $1 million fine, and five years of supervised release on the bank fraud charge; and 20 years in prison, a $250,000 fine and four years of supervised release on the mail fraud charge. Additionally, pursuant to the plea agreement, the defendant is liable for a criminal forfeiture of $860,751.88. U.S. District Judge William M. Nickerson scheduled sentencing for August 3, 2006.
United States Attorney Rod J. Rosenstein praised the investigative work performed by the Federal Bureau of Investigation and the U.S. Postal Inspection Service. Mr. Rosenstein also thanked Assistant U.S. Attorney Harry M. Gruber, who is prosecuting this case.
This page last modified—May 19, 2006