BOSTON – A trio of accused con artists were today clapped in irons for their alleged role in a $2.7 million bank heist at Bank of America, officials announced.
Palestine Ace, the mastermind behind the scam, identified as Pam Ace (45), along with her husband Jonathan R. Ace (46) and Brianna Alexis Forde (35) from Boston, face charges for conspiracy to commit bank fraud and wire fraud. The rock-solid indictment unsealed today also nails them for a litany of additional counts.
From October 2010 to April 2015, the trio is accused of bilking Bank of America out of millions by tricking non-profit organizations into funneling funds through them. Using her Senior Vice President’s perch at Bank of America, Palestine Ace siphoned off marketing budget monies and funneled them to phony causes.
The cunning con artists then coerced the recipients of the ‘donations’ to cough up a chunk back, either into Jonathan Ace or Forde’s hands or directly into an account where the defendants had ready access. The indictment claims that on several occasions, Jonathan Ace used intimidation and veiled threats to extract a larger return.
The trio didn’t just live off of their ill-gotten gains; they were also accused of splurging on personal extravagances like lavish birthday bashes and a $17,000 Kawasaki motorcycle, courtesy of Bank of America’s lost funds.
Each charge for wire fraud and bank fraud carries a potential sentence of up to 20 years, alongside fines that can reach $250,000. The unlawful monetary transaction charges don’t fare much better – a maximum penalty of 10 years is on the table here too.
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Key Facts
- State: Massachusetts
- Agency: DOJ USAO
- Category: Fraud & Financial Crimes|Public Corruption
- Source: Official Source ↗
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