Bank Fraud Kingpin Phalentz Vernot and Five Accomplices Busted

BOSTON – Phalentz Vernot, a 24-year-old from Waltham, and his five alleged accomplices are facing federal charges for their roles in a multi-million-dollar bank fraud scheme that spanned across Massachusetts, Connecticut, and Rhode Island.

The ring, led by Vernot, who was also charged with aggravated identity theft, is accused of orchestrating the unauthorized withdrawal of large sums from victim customers’ accounts using fake identification. The defendants allegedly recruited bank insiders to aid in their heist, manipulating account notifications and accessing sensitive customer information.

Joining Vernot are Selby Okai, 23, of Worcester; Yves Bissainthe, 23, of Randolph; Marvin Kimani, 24, of Lowell; Keith Wainaina, 23, of Lowell; and Victor Kolawole, 25, of Brockton. All six were arrested today and faced federal court in Boston.

According to the charges, the scheme began in December 2022 and involved obtaining personal information of bank customers, recruiting imposters to withdraw cash from their accounts, and depositing those funds into accounts controlled by the defendants. The group faces up to 30 years in prison for bank fraud, 20 years for money laundering conspiracy, and an additional two-year sentence for identity theft.

The FBI, led by Ted E. Docks and P.J. O’Brien, and supported by local law enforcement agencies, were instrumental in the investigation that led to today’s arrests. Assistant U.S. Attorney Kristen Kearney is handling the prosecution.

The charges are mere allegations; the defendants are presumed innocent until proven guilty beyond a reasonable doubt in court.