A Baton Rouge man has been given a hefty prison sentence for his role in a brazen wire fraud scheme that swindled financial institutions out of nearly $180,000.
Baton Rouge resident Terrance August, 48, was sentenced to 70 months in federal prison by Chief Judge Shelly D. Dick, following his conviction for conspiracy to commit wire fraud.
August was also ordered to serve three years of supervised release following his term of imprisonment and pay $179,976.99 in restitution to financial institutions.
According to his guilty plea, August conspired with others to commit wire fraud, using the personal identifying information of bank customers to obtain access to account information.
The scheme involved August and his co-conspirators impersonating victims, contacting financial institutions, and requesting changes to account information, often resulting in the withdrawal of funds at ATMs and bank branches in the Middle District of Louisiana.
August and his co-conspirators retained a portion of the stolen funds for personal enrichment, netting a significant profit from the scheme.
This case was investigated by the Federal Bureau of Investigation and prosecuted by Assistant United States Attorney Kristen Lundin Craig.
August’s sentence serves as a stark reminder of the consequences of such crimes, and the importance of swift and severe punishment for those who seek to exploit others for personal gain.
The investigation and prosecution of this case are a testament to the dedication and expertise of law enforcement agencies and prosecutors who work tirelessly to bring perpetrators to justice.
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Key Facts
- State: Louisiana
- Agency: DOJ USAO
- Category: White Collar Crime
- Source: Official Source ↗
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