Savannah woman indicted for money laundering conspiracy
For Immediate Release
U.S. Attorney's Office, Southern District of Georgia
Money diverted from others’ retirement accounts, withdrawn in cash
SAVANNAH, GA: A Savannah woman was charged with cashing out funds from other people’s retirement accounts that were diverted to her bank.
Karen Dickerson has been indicted for Conspiracy to Commit Money Laundering, Money Laundering, Unlicensed Money Transmitting Business and Structuring, said Bobby L. Christine, U.S. Attorney for the Southern District of Georgia.
The charges, upon conviction, carry a penalty of up to 20 years in prison, a fine of up to $250,000 and up to three years of supervised release upon completion of any prison sentence. There is no parole in the federal system.
According to the indictment, members of the conspiracy obtained unauthorized access to retirement savings accounts to make unauthorized wire transfers. Dickerson then coordinated with members of the conspiracy to have funds wired from those accounts into bank accounts that she controlled, and Dickerson would then withdraw the cash from her accounts.
“Retirees rightfully expect their hard-earned money to be available in their twilight years, and shouldn’t have to worry about thieves draining their accounts,” said Bobby L. Christine, U.S. Attorney for the Southern District of Georgia. “Our office will vigorously prosecute those who would seek fraudulent financial gain from others’ labors.”
“Technology has forever changed the way we do business, making everyday financial transactions a prime target for fraud,” said Glen Kessler, Savannah Resident Office Agent in Charge of the U.S. Secret Service. “The Secret Service has taken a lead role in mitigating the threat of account takeovers and Business Email Compromise (BEC) investigations and one of our top priorities continues to be combating computer-related crimes perpetrated by domestic and international criminals that target the U.S. financial infrastructure.”
An indictment contains only charges. Defendants are presumed innocent unless and until proven guilty.
The case is being investigated by the United States Secret Service in coordination with Assistant U.S. Attorney Xavier Cunningham, Section Chief, and Gary Purvis, Litigation Financial Analyst, with the Asset Forfeiture Unit of the U.S. Attorney’s Office for the Southern District of Georgia. The case is being prosecuted for the United States by Assistant United States Attorney Steven H. Lee.
Barry L. Paschal, Public Affairs Officer (Contractor): 912-652-4422.
Updated May 10, 2019
Press Release Number: 46-19