MEMPHIS, TN – A music label turned criminal enterprise has been dismantled following a sweeping federal indictment, authorities announced today. Eighteen individuals connected to “Fast Cash Boyz Entertainment” are facing charges of bank fraud and large-scale drug trafficking. The operation, which spanned from 2016 to 2019, allegedly used the label as a front to launder money earned through illicit activities.
The indictment details a sophisticated scheme to defraud Regions Bank, involving the deposit of worthless checks into accounts and subsequent cash withdrawals before the fraud could be detected. Carterrio Bogan, 27, of Memphis, along with Cortavious Culp, 22, Allon Gates, 23, Marcel Glass, 26, Marquice Lester, 24, Karlyss Williams, 25, Cordney Smith, 23, Marcolm Watson, 26, Carlos Whitten, Jr., 23, Quinton Chaffin, 28, Deandre Evans, 20, and Nickelle Jackson, 24, are all charged with conspiring to commit this bank fraud. The alleged conspiracy caused Regions Bank a loss of $243,000.
But the scheme didn’t stop at bad checks. The indictment further alleges a massive marijuana distribution operation. Nashon Baldwin, 24, of Los Angeles, California, Carterrio Bogan, Terrell Boyland, 30, of Memphis, Tennessee, Jimmy Gause, 25, of Memphis, Tennessee, Marcel Glass, Aaron Henderson, 42, of Memphis, Tennessee, Marticus Hill, 29, of Memphis, Tennessee, Ledarious Hope, 25, of Memphis, Tennessee, and Cordney Smith are accused of conspiring to possess with intent to distribute and distribute over 100 kilograms of marijuana between February 2016 and October 31, 2018.
Federal authorities are seeking to seize a total of $1,243,000 in criminal proceeds, including $243,000 linked to the bank fraud and at least $1,000,000 from the drug conspiracy. All 18 defendants are currently in custody. The complete list of those charged includes: Nashon Baldwin, Carterrio Bogan, Terrell Boyland, Quinton Chaffin, Cortavious Culp, Deandre Evans, Allon Gates, Marcel Glass, Jimmy Gause, Aaron Henderson, Marticus Hill, Ledarious Hope, Nickelle Jackson, Marquice Lester, Cordney Smith, Marcolm Watson, Carlos Whitten, Jr., and Karlyss Williams.
“Drug dealing and fraud schemes that distribute poison into our streets and steal money from financial institutions must be stopped,” a U.S. Attorney’s Office representative stated. “We thank and commend the outstanding investigative work and collaboration by our federal and local law enforcement partners to dismantle the ‘Fast Cash’ criminal enterprise, and our office looks forward to the prosecution of this case that will hold these defendants accountable.”
Regions Bank officials echoed the sentiment, urging customers to remain vigilant. “No matter where you bank, we encourage everyone to be on guard and report it immediately if someone asks for private account information or for access to your account,” said Don White, head of Corporate Security for Regions Bank. “At Regions, we work around the clock to detect and prevent fraud.” The investigation remains ongoing, and authorities have not ruled out the possibility of additional charges or arrests.
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Key Facts
- Agency: U.S. Secret Service
- Category: Fraud & Financial Crimes
- Source: Official Press Release
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