Ohio Duo Hit With 84 Counts in Massive Fraud Scheme

CLEVELAND, OH – A pair of Northeast Ohio women are facing a staggering 84-count superseding indictment following a sprawling investigation into a brazen fraud and money laundering operation, authorities announced today. The scheme allegedly ripped off banks, government agencies, and individuals, resulting in losses exceeding $43,000.

Angelique Bankston, 41, of South Euclid, and Jocelyn Hale, 31, of Cleveland, are accused of a systematic effort to defraud financial institutions and exploit government programs. United States Attorney for the Northern District of Ohio, Steven M. Dettelbach, detailed the charges, which include conspiracy to commit bank fraud, money laundering, wire fraud, and mail fraud. This isn’t some petty theft; this is a calculated assault on the financial system.

The indictment lays out a complex web of deceit. Both Bankston and Hale are charged with one count of conspiracy to commit bank fraud, three counts of conspiracy to commit money laundering, one count of conspiracy to commit wire fraud, one count of wire fraud, and one count of conspiracy to commit mail fraud. But the charges don’t stop there. Bankston bears the brunt of the additional allegations, facing five counts of bank fraud, eight counts of mail fraud, five counts of aggravated identity theft, and a whopping 59 counts of money laundering. Hale faces four counts of bank fraud, one count of aggravated identity theft, and five counts of money laundering.

Investigators allege Bankston and Hale used stolen identities to fleece Citizens Bank, Lending Club Corporation, and Wells Fargo Bank. The pair allegedly deposited $13,027.22 in counterfeit funds into a Wells Fargo account and further funded another Wells Fargo account with illegally obtained money. But the scheme didn’t end with private banks. The indictment also details how Bankston defrauded the Ohio Department of Job and Family Services (ODJFS) and Dollar Bank, funneling $27,460 in illicit funds into a Dollar Bank account. She’s also accused of intercepting mail and stealing $2,800 in U.S. Bank ReliaCards issued by ODJFS to unsuspecting individuals.

Federal investigators from the Internal Revenue Service, Criminal Investigation, the Federal Bureau of Investigation, and the United States Postal Service, Cleveland, spent months unraveling the scheme. Assistant United States Attorneys Mark S. Bennett and Perry D. Mastrocola are prosecuting the case. While the indictment is a significant step, it’s crucial to remember this is only an accusation.

“An indictment is only a charge and is not evidence of guilt,” a DOJ spokesperson emphasized. “The defendants are entitled to a fair trial in which it will be the government’s burden to prove guilt beyond a reasonable doubt.” If convicted, both Bankston and Hale face sentencing determined by the court, taking into account their criminal history and the severity of their involvement. However, the statutory maximum for these charges is substantial, and a lengthy prison term is a very real possibility.

RELATED: Canton Man Accused of Stealing Veteran Benefits

RELATED: Cleveland Trio Indicted for $1.4M Property Fraud