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Baton Rouge Man Pleads Guilty in $305,000 Bank Fraud Scheme
A Baton Rouge man has admitted to his role in a brazen bank fraud scheme that saw over $305,000 stolen from a Natchitoches bank.
Joe Lee Colbert Jr., 38, pleaded guilty Tuesday to one count of conspiracy to commit bank fraud, according to U.S. Attorney Stephanie A. Finley.
Colbert, along with bank branch manager Deirdre Christophe Nelson, 36, of Natchez, La., conspired to steal cash and issue money orders from the bank to be deposited into Colbert’s account.
Nelson, 36, of Natchez, La., and bank teller Valerie K. Culpepper, 35, of Natchitoches, falsified bank records to hide the money stolen during the scheme, which ran from 2011 until July 2014.
Colbert faces up to 30 years in prison, five years of supervised release, a $1 million fine, forfeiture, and restitution. A sentencing date of January 22, 2016, was set.
Nelson pleaded guilty on September 10, 2015, to one count of conspiracy to commit bank fraud. Culpepper pleaded guilty on July 17, 2015, to one count of conspiracy to make false statements in bank records. Both face similar sentences to Colbert.
The FBI conducted the investigation, with Assistant U.S. Attorney Cytheria D. Jernigan prosecuting the case.
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Key Facts
- State: Louisiana
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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