Baton Rouge Resident Convicted Of Fraudulent Scheme Throughout 2012 And 2013
BATON ROUGE, LA - United States Attorney Walt Green of the Middle District of Louisiana announced that RAPHEW T. REED, JR., age 31, of Baton Rouge, Louisiana, has been convicted of false representation of a Social Security number, in violation of Title 42, United States Code, Section 408(a)(7)(B), and wire fraud, in violation of Title 18, United States Code, Section 1343, in connection of a fraudulent scheme he executed throughout 2012 and 2013 in the Baton Rouge area and elsewhere. REED entered his guilty pleas before Judge John W. deGravelles and is now awaiting sentencing. REED faces significant incarceration, fines, restitution, and supervised release following imprisonment, as well as the forfeiture of the proceeds of his criminal activity.
REED was a resident of Baton Rouge, Louisiana, who held himself out as a financial advisor and as someone who could assist individuals and businesses in obtaining credit and financing. However, during his guilty plea hearing, REED admitted that, in May of 2012, he knowingly made false statements to a federally-insured credit union in an attempt to obtain a loan. REED provided the credit union with a false Social Security number and documents that misrepresented his identity, income, and credit score. When that scheme failed, from late 2012 through April 2013, REED executed a scheme to defraud another company, which, on November 27, 2012, wired $125,000 to REED. REED fraudulently diverted the funds to his friends, family members, others to whom he owed money, and to another one of his own bank accounts. When the victim repeatedly asked REED to return the funds, as he had promised he would do, REED falsely represented to the victim that he was in the process of returning the company’s funds. REED knew that he did not have the funds but continued to make false statements to the victim through April of 2013.
U.S. Attorney Green stated: “Con artists undermine the financial security of our community and often leave many victims in their wake. We will continue to vigilantly pursue such criminals with the resources necessary to bring them to justice.”
This ongoing matter is being investigated by the Baton Rouge office of the Federal Bureau of Investigation, with valuable assistance from the Social Security Administration’s Office of Inspector General. The matter is being prosecuted by Assistant United States Attorney Alan A. Stevens, who serves as a deputy chief within the office’s Criminal Division.