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Banker’s Betrayal: Lynn Man Pleads Guilty to Bank Fraud, Money Laundering Scheme
BOSTON, MASSACHUSETTS – In a shocking revelation, Chukwuemeka Eze, a 37-year-old Lynn man, has pleaded guilty to a complex bank fraud and money laundering scheme that duped a Korean company out of approximately $1.4 million.
Eze, who was arrested in June 2019, admitted to using a victim’s name, date of birth, and Social Security number without permission to open bank accounts in the victim’s name and in the name of a fictitious Massachusetts corporation, Levistronix GMB Ltd. The defendant chose the name Levistronix because of its similarity to Levitronix GmbH, an actual Swiss company.
In May and June 2018, others involved in the scheme sent fake Levitronix invoices totaling approximately $1.4 million to a Korean company that was a Levitronix customer. The fake invoices directed the company to send the $1.4 million to Eze’s deceptively-named Massachusetts bank account.
When Eze received the money, he withdrew cash and spent tens of thousands of dollars on retail purchases, including Apple laptops and Zales’ jewelry. He also purchased $700,000 in bank checks payable to other fictitious companies that he controlled, which he deposited into bank accounts in those companies’ names.
Eze in turn made cash withdrawals, retail purchases, and wire transfers from those bank accounts, all to conceal the fact that the money was the proceeds of the fraud scheme. In doing so, Eze spent or disbursed more than $862,000 of the Korean company’s money.
The charges against Eze include bank fraud, which provides for a sentence of up to 30 years in prison, five years of supervised release, a fine of $1 million, forfeiture, and restitution. The charges of money laundering provide for sentences of up to 20 years in prison, three years of supervised release, a fine of $500,000, forfeiture, and restitution. The charge of aggravated identity theft provides for a sentence of two years in prison consecutive to any other sentence imposed.
United States Attorney Andrew E. Lelling and Joseph R. Bonavolonta, Special Agent in Charge of the Federal Bureau of Investigation, Boston Field Division, made the announcement today. Assistant U.S. Attorney Seth B. Kosto of Lelling’s Cybercrime Unit is prosecuting the case.
The details contained in the charging documents are allegations, and the defendant is presumed innocent unless and until proven guilty beyond a reasonable doubt in a court of law.
Key Facts
- State: Massachusetts
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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