Festus Owusu, Conspiracy to Commit Wire Fraud, Erie PA, 2023

ERIE, Pa. – A Brooklyn man is facing up to two decades behind bars after admitting his role in a brazen scheme to steal federal tax refunds. Festus Owusu, 44, pleaded guilty today in federal court to one count of conspiracy to commit wire fraud, according to United States Attorney David J. Hickton.

The court heard a grim tale of financial exploitation. Owusu willingly allowed his personal bank accounts to serve as dumping grounds for fraudulently obtained tax refunds – money stolen from real Americans. He wasn’t just a passive participant; he actively withdrew the ill-gotten gains in cash.

Sources within the investigation reveal Owusu wasn’t content with simply providing a service. He skimmed a cut of the stolen refunds for himself before passing the remainder on to his co-conspirators, effectively profiting from the misery of identity theft victims. The exact amount of the loss is still being calculated, but could be substantial.

United States District Judge David S. Cercone has scheduled sentencing for February 6, 2017. Owusu now faces a maximum total sentence of 20 years imprisonment, a hefty fine of up to $250,000, or twice the amount of the financial loss inflicted upon the victims – or a combination of both. The Judge will consider Owusu’s criminal history, if any, when determining the final sentence.

Assistant United States Attorney Christian A. Trabold is leading the prosecution. The investigation, which brought Owusu to justice, was a joint effort by the Federal Bureau of Investigation and the Internal Revenue Service, Criminal Investigation division. These agencies have been cracking down on these types of schemes, which are increasingly common.

Grimy Times will continue to follow this case and report on the sentencing. This serves as a stark reminder that exploiting the federal tax system comes with severe consequences. The investigation into Owusu’s co-conspirators is ongoing, and further indictments are expected.