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Press Release

California Man Pleads Guilty to Wire Fraud in Connection to a Scheme to Steal Cash from Bank Accounts Through ATM Withdrawals

For Immediate Release
U.S. Attorney's Office, Western District of Louisiana
Defendant used altered debit cards to make $62,045 in ATM cash withdrawals

SHREVEPORT, La. United States Attorney David C. Joseph announced that Dennis Busch, 40, of Costa Mesa, California, pled guilty yesterday afternoon to wire fraud, in connection with a scheme to use altered debit cards to steal cash from Capital One bank accounts.

According to court documents, Busch used altered, re-encoded Capital One debit cards to make cash withdrawals from Capital One ATMs in the Shreveport and Bossier City area. From September 24, 2018 to October 8, 2018, Busch withdrew $33,838 from the bank accounts of numerous Capital One account holders. From August 13, 2019 to August 22, 2019, Busch withdrew $28,207 from Capital One bank accounts. During this time, he attempted to withdraw approximately $44,634 over numerous additional transactions, but was denied by the bank. Busch obtained the information of the Shreveport residents while he resided in California, and then traveled to the Shreveport area to commit the fraud. Throughout the scheme, Busch withdrew, or attempted to withdraw, approximately $106,679 in total.   

Chief U.S. District Judge S. Maurice Hicks Jr., presided over the hearing and set sentencing for October 20, 2020. Busch faces up to 20 years in prison, a $250,000 fine, and up to three years of supervised release.

The United States Secret Service is investigating the case. Assistant U.S. Attorney Cadesby B. Cooper is prosecuting the case.

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Updated July 8, 2020

Financial Fraud