SHREVEPORT, LA – Dennis Busch, 40, of Costa Mesa, California, is headed to federal prison after being sentenced for a brazen scheme to drain cash from Capital One accounts using re-encoded debit cards. The 72-month (6-year) sentence, handed down by U.S. District Judge S. Maurice Hicks, Jr., sends a clear message: hitting bank accounts in Louisiana won’t pay.
According to court documents revealed at the guilty plea hearing on July 7, 2020, Busch systematically targeted Capital One customers in 2018 and 2019. He wasn’t hacking accounts directly; instead, he exploited compromised card data – likely obtained through phishing scams – to create altered debit cards. Then, using the legitimate PINs of the account holders, Busch made hundreds of unauthorized withdrawals from ATMs scattered throughout the Shreveport-Bossier City area.
The scope of Busch’s operation is staggering. In September and October of 2018 alone, he siphoned off $33,838. He didn’t stop there. In August 2019, he returned to the same playbook, extracting another $28,607. While Capital One’s security measures blocked many attempted fraudulent transactions, Busch still managed to successfully complete over 300 illegal ATM withdrawals. The total restitution ordered: $63,045 – money Capital One ultimately absorbed after reimbursing its defrauded customers.
Investigators with the U.S. Secret Service traced Busch’s activity, uncovering a pattern of carefully planned ATM hits. The agency’s investigation revealed a connection to a wider network of phishing attacks, where unsuspecting individuals clicked on malicious links, unknowingly handing over their banking information. While those phishing schemes aren’t Busch’s direct responsibility in this case, they were a crucial component of his ability to carry out the fraud.
Assistant U.S. Attorney Cadesby B. Cooper successfully prosecuted the case, securing the substantial prison sentence and restitution order. The U.S. Attorney’s Office, led by Acting United States Attorney Alexander C. Van Hook, is determined to crack down on financial crimes that impact local communities. This isn’t a victimless crime; while Capital One bore the financial loss, it’s the account holders who had their peace of mind – and their money – temporarily stolen.
In addition to the six years in prison, Busch will face 3 years of supervised release upon his release. The Secret Service investigation continues to explore potential co-conspirators and the source of the compromised banking information. This case serves as a stark reminder to remain vigilant against phishing attempts and regularly monitor bank accounts for any unauthorized activity.
Related Federal Cases
- Dennis Joseph Machado, Methamphetamine Distribution, Bank Fraud, Ca… · Texas
- Amy Evangelista Sentenced to 18 Months for Tax Fraud Scheme, Lathro… · Alaska
- McKenzie Marie Earley, $10M Wire Fraud, C.D. California, 2023 · Pennsylvania
- Tyrone Bradshaw, Sex Offender Registration Fraud, Los Angeles CA, 2023 · Texas
- Eric Dwayne Williams, Felony Gun Charge, Shreveport LA, 2023 · Pennsylvania
Key Facts
- Agency: U.S. Secret Service
- Category: Fraud & Financial Crimes
- Source: Official Press Release
Get the grimiest stories delivered weekly. Subscribe free
Browse More
MORE FEDERAL CRIME NEWS
US NewsUS NewsUS NewsUS News