News and Press Releases

Lorain man charged with bank fraud and money laundering

FOR IMMEDIATE RELEASE
January 10, 2013

A six-count indictment was filed charging Clarence Cornwell, age 51, of Lorain, Ohio, with bank fraud and money laundering, said Steven M. Dettelbach, United States Attorney for the Northern District of Ohio.

Cornwell is accused of defrauding Charter One by deposting a check with a materially altered payee's name into a business account Cornwell controlled on July 28, 2010, according to the indictment. Between July 30 and Aug. 4, 2010, Cornwell then made five withdrawals from the account totalling $39,900, according to the indictment.

If convicted, the defendant’s sentence will be determined by the Court after reviewing factors unique to this case, including the defendant’s prior criminal record, if any, the defendant’s role in the offense and the characteristics of the violation. In all cases the sentence will not exceed the statutory maximum and in most cases it will be less than the maximum.

The investigating agency in this case is the United States Secret Service, Toledo, Ohio. The case is being handled by Assistant United States Attorney Gene Crawford.

An indictment is only a charge and is not evidence of guilt. A defendant is entitled to a fair trial in which it will be the government’s burden to prove guilt beyond a reasonable doubt.

 

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